Mar.16-23 Roundup of Steel Markets In China

Resource from: CBCC Likes:3022

Mar 26,2007

Mar.16-23 Roundup of Steel Markets In China In this week the bearing steel market see a slight rise. Owing to the prise-rise of bearing steel by the steel makers last week, distributors raise their price to varing degree. However, deal volume are in an average level as a result of the pressure produced by higher price. With regard to raw materials, price of scrap steel and pig iron remain high, leading to the higher purchasing cost of steel makers. Besides, it's the peak period of bearing steel's consumption at present. Thus the price of bearing steel will remain in high level in the days to come. The distributors are facing serious pressures, because of the soonly-due bank loan, causing less deal volume. It's expected that the price of bearing steel will keep in high level, resources are going to be consumed slowly. On Mar. 19 Nanjing Steel & Iron Group raise their price of bearing steel bar by 200 yuan/ton, wire steel by 100 yuan/ton.

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