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Apr.27-May 11 Roundup of Steel Markets In China

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May 14,2007
Apr.27-May 11 Roundup of Steel Markets In China (Apr.27-May 11)Last week saw a stable bearing steel market. Since the beginning of May, many steel makers raised their price for bearing steel. The price was raised by 50 to 150 yuan/ton in many steel mills, such as Huarun, Xinye, Shigang, Juneng, Nanjing, Xingcheng, Luli etc. Deal volume was in a rational level in last week. Limited supply placed a negative impact on the volume. In following days, the market will be dominated by restricted supply and higher price. In last week, the Mysteel-SSPI(Special Steel Price Index) compositive index stay in 117.2, 4.4 point higher than last week. May 4, Huarun raised their price of bearing steel by 50yuan/ton; May 7, Shigang raised their price of bearing steel by 100yuan/ton; May 8, Xinye raised their price of bearing steel by 100yuan/ton; Juneng raised their price of bearing steel by 150yuan/ton to 4400yuan/ton; May 9, Nanjing raised their price of steel bar by 100yuan/ton; Xingcheng raised their price of bearing steel by 100yuan/ton;
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