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Jan. 12-19 Roundup of Steel Markets In China

Resource from:  CBCC Likes:3031
Jan 22,2007
Jan. 12-19 Roundup of Steel Markets In China Price of bearing steel stay in a stable level this week. After the price adjustment early this month, price fluctuation has almost stopped, average price was above 4000 yuan/ton. According to the steel makers, deal volume was still lower. Because of the approaching Spring Festival when it is a tradition that all business men temporarily stop their business and go back home for a family reunion, distributors tend to keep their money in hand, even if some of them are willing to purchase. This week, only a few steel makers raised their price. Shiheng Special Steel raised price of bearing steel by 100 yuan/ton; Huarun Special Steel raised by 50 yuan/ton. At present, available bearing steel resources are limited on the market, the situation is more serious in North China. Some says that once pressure on transportation can be lessened, bearing steel will be transmited from South to North, which may impact the North bearing steel market. Statistically, the average price of bearing steel has increased by 0.5% from last week, 3.7% higher than previsou month.
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