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Apr.20-27 Roundup of Steel Markets In China

Resource from:  CBCC Likes:3017
May 08,2007
Apr.20-27 Roundup of Steel Markets In China (Apr.20-27)This week see a stable bearing steel market with a trend of rise. It's the steel makers that drive the bearing steel price. Price of bearing steel were raised by many steel makers, like Nanjing Steel & Iron Group, Huarun Special Steel, Shigang Special Steel, Juneng Special Steel, Shougang Steel & Iron Group, Xingcheng Special Steel, Huaigang Special Steel etc. The price has been raised by 50 to 200 yuan/ton. Reportedly, price of chrome iron has increased approximately by 300 yuan/ton from the previous 8000-8300 yuan/ton to current 8300-8600 yuan/ton. Price for scrap steel and pig iron is also in high level. These are the reasons for most steel makers' price-rise. At present, the popular quotation for bearing steel is over 4500 yuan/ton in the market. Some distributors believe a further prosperous market in near future and slow down their speed in selling, causing the disproportional deal volume to great price-rise. On the another hand, shortage of raw material lead to the limited supplying of bearing steel.
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