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Dec.1-Dec. 8 Roundup of Steel Markets In China

Resource from:  CBCC Likes:3023
Dec 12,2006
Dec.1-Dec. 8 Roundup of Steel Markets In China (Dec. 1 - Dec. 8)The overall market of bearing steel remain as last week, deal volume have little change. Concerning the demand from end-users, although auto industry has revived to some extent, demand for bearing steel has not been increased. At the end of year, all distributors are busy of fiscal settlement and not willing to waste their money on inventories. Thus lots of them employ price reduction. Because of the increasing price of steel scrap, special alloy steel and other raw material, only limited reduction will be available. So far, steel makers have not announced any price change. According to distributors, the current price of bearing steel has been close to productive cost, only tiny profit available. They believe that there is little possibility for a continued price decline of bearing steels in future. By the end of this week, average price of common bearing steel (GCr15) in major regions of China were 4061 yuan/ton; those of anneal bearing steel were 5653 yuan/ton.
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