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Nov.3-Nov.10 Roundup of Steel Markets In China

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Nov 14,2006
Nov.3-Nov.10 Roundup of Steel Markets In China (Nov.3-10) Price of bearing steel in major markets is still at lower level. There is no obvious change of the deal price this week, while markets become gloomier to varying degree, future of sale is still not optimistic. Now available stocks are limited, most distributors have no stocks in their warehouses. The popular products with diameter about 80mm are in great demand. Due to the depression market, some steel makers carry out equipments maintenance during this period. According to analysts, maintenance at this moment have advantages in two aspects. First, it will be less costly to carry out maintenance at such a depression time; Second, maintenance will have direct influence to resource freeing, which may stablize the market featuring surplus capacity to some extent. Traditionally, it is in December that distributors settle with steel makers, then they may employ price reduction for as much profit as they could earn. Therefore, it is impossible that they cut their price in advance now. By the end of this week, average price of common bearing steel (GCr15) in major regions of China were 4110 yuan/ton; those of anneal bearing steel were 5642 yuan/ton.
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