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Dec. 15-22 Roundup of Steel Markets In China

Resource from:  CBCC Likes:3021
Dec 25,2006
Dec. 15-22 Roundup of Steel Markets In China (Dec. 15 - 22) The bearing market in China remain gloomy, deal volume have no rebound, price keep fluctuating within narrow band. The China Market Analysing Conference for Special Steel was held on the week end. Representatives from about 40 steel makers including Baosteel, Dongbei Sepcial Steel etc. attended the conference, talking about an united price rise for quality carbon steel bar and alloy steel bar during the period up to January. And the participants tried to reach a consensus that price for bearing steel bar should be no less than 4000 yuan/ton and for bearing steel wire no less than 4400 yuan/ton. Gossip about price-rise for bearing steel can be heard everywhere. Although, distributors have strong will to collect more cash by discounted sale at the end of year, deal volume and price will remain stable. Now, price of bearing steel is close to productive cost, the price rebound is beyond question in future. Statistically, the average price of bearing steel has increased by 0.3% from last week, 0.8% higher than previsou month.
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