May 11-18 Roundup of Steel Markets In China
Resource from: CBCC Likes:3016
May 21,2007
May 11-18 Roundup of Steel Markets In China
(May 11-18) Bearing steel was traded in a stable level in China. For the past week, price for bearing steel was only raised by few steel makers, including Xining, Yegang and Hanyang Steel Groups. The price was raised by 80 to 150 yuan/ton, which had little influence on the overall market price.
At present, 4,400 yuan/ton has become the dominant price for bearing steel in China, with low degree of recognition by the distributors. Thus, deal volume is not as much as we can imagine. On the other hand, the deal volume is restricted partly by the limited stock in the market. Man inside the industry said that price-rise of raw materials, shortage of other resources and closure of some highly-polluted steel makers caused lasting record-low of available bearing steel in domestic market. Therefore, price of bearing steel are expected to increase in future.
From the distributors’ side, however, they can’t completely accept the current price level as their profitability shrinks constantly. This result in the decreasing number of order placed to steel makers. And market demand will become weaker in June, the traditional off-season. All these contribute to the possibility of a price slide in the following days. As a result, a balance between supply and demand bears on the price trend of bearing steel in future.
In last week, the Mysteel-SSPI (Special Steel Price Index) compositive index stay in 118.9, 1.7 points higher than last week.
May 11, Xining Special Steel raised their price for GCr15SiMn by 150 yuan/ton;
May 15, Xinye Special Steel raised their price for Cr steel by 100 yuan/ton;
May 16, Wugang Hanyang Steel raised their price for bearing steel by 80 yuan/ton
()
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
