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May 28-June 1 Roundup of Steel Markets in China

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Jun 04,2007
May 28-June 1 Roundup of Steel Markets in China (May 28-June 1) Bearing steel was traded in a stable level in China during this week. For this week, the steel makers didn’t launch any price adjustment policy. The total turnover experienced unchanged situation, but the demand from down stream was acceptable. Due to the limit resource, some deals were restricted in a certain degree. Since May, the quotation of high carbon basically remains steady, which is one of the positive factors for the stable of bearing steel price. It is estimated the situation that inadequate resource of chrome and carbon steel has alleviated gradually. Since June, the steel market will gradually come to its off-season period. The hot temperature of summer will have a certain effect on the manufacturing of down-stream enterprises. Thus, the demand for bearing steel will slow down gradually. China bearing steel market will turn to a stable track. In this week, the Mysteel-SSPI (Special Steel Price Index) compositive index stays in 118.2, 0.5 points lower than that of last week.
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