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Nov.24-Dec.1 Roundup of Steel Markets In China

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Dec 04,2006
Nov.24-Dec.1 Roundup of Steel Markets In China (Nov.24 - Dec.1) The bearing steel market is stable this week. Because demand of end-users are still limited, there is no upturn in deal volume. The market is dominated by less deal. Generally, distributors would like to collect from market as much cash as possible in December. Thus, they may employ price reduction to some degree, even if their purchase cost is as expansive as before. Therefore, the bearing steel price may decline in Dec. Steel makers in North China have planned to cut their output since the end of this year. Then, bearing steel available on the market will shrink. And with the rebound of demand, the market tend to be balanced. In short, price of bearing steel will remain stable in next week. By the end of this week, average price of common bearing steel (GCr15) in major regions of China were 4053 yuan/ton; those of anneal bearing steel were 5642 yuan/ton.
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