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Feb. 25-Mar. 2 Roundup of Steel Markets In China

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Mar 05,2007
Feb. 25-Mar. 2 Roundup of Steel Markets In China (Feb. 25-Mar. 2) This week see a trend of flurishing in bearing steel market. Following one week long Spring Festival holiday, distributors resume their job, adding vitality to the previously quiet market. At the beginning of this week, distributors set price at a conservative level, many of them are playing a waiting game. Therefore, deal volume remain lower. However, the price began to rise soon after steel makers raise their price for bearing steel. Reliable source said, due to the rising price of raw materials like pig iron, scrap steel, productive cost of bearing steel also got raised. Thus, many steel markers reveal that the bearing steel market will see a furter price-rise in March. According to analyst, the band of rise may be between 80 to 100 yuan/ton. Besides, the available bearing steel are increasing, because of few deal and limited consumption of bearing steel during the holiday as well as the eased strain on transportation after the Spring Festival. And bearing steel market are used to experiencing a boom in March. So there is no doubt that deal volume are going to expand, price continue rising in next week.
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