Dec. 22-29 Roundup of Steel Markets In China
Resource from: CBCC Likes:3100
Jan 04,2007
Dec. 22-29 Roundup of Steel Markets In China
(Dec. 22-29)Bearing steel market is stable in this week, deal volume do not expand as greatly as people had forecasted. Deal price fluctuate modestly. Stock for bearing steels available on the market is close to the bottom line.
Following the prediction for price-rise last week, many steel makers have raised their price to the level as following:
Latest Price Change:
Dec. 26
Yongtong Special Steel: raise to 4000 yuan/ton;
Shijiazhuang Steel & Iron: raise by 200 yuan/ton;
Xingcheng Special Steel: raise by 150 yuan/ton;
Dongbei Special Steel: raise by 200 yuan/ton;
Huarun Special Steel: raise by 250 yuan/ton(steel bar), 150 yuan/ton(steel wire);
Dec. 28
Huaigang Special Steel: raise by 100 yuan/ton to 4400 yuan/ton;
Nanjing Iron & Steel Union: raise price of steel bar by 100 yuan/ton to 4360 yuan/ton; steel wire by 150 yuan/ton to 4460 yuan/ton;
Dec. 29
Hubei Xingang Steel: raise by 100 yuan/ton
At present, demands of endusers are still limited, also they are short of cash flow. Therefore, deals on bearing steel are influenced, endusers refuse to accept the fact of price-rise.
However, the price-rise also have some positive influences on the bearing steel market. As the price has almost reached a zero-profit level, price rebound would be possible at any time. And deal volume will increase before the Chinese traditional Spring Festival, when distributors should expand their inventory. Thus, it is the right time to announce price-rise, encouraging the prospective revitalization of bearing steel market.
Statistically, the average price of bearing steel has increased by 1.1% from last week, 1.9% higher than previsou month.
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