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August 10 -August 17 Roundup of Steel Markets in China

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Aug 20,2007
(August 10 -August 17) The overall bearing steel market performed well this week. The market price showed a sign of continuous growth and the transation became active again. Affected by the rise of material price, all steel makers raised the bearing steel price. Each bearing steel makers increased the quotatation for bearing steel approximately by 50 yuan/ton, which stimulated the demand of the bearing steel market.The transactions were relatively increased with adequate market resources. The whole bearing steel market action was stable. The distributors are confident about the latter beairng steel trend. The market price will continuously show signs of steady rise. The Mysteel-SSPI (Special Steel Price Index) compositive index stays in 110.0, 0.1 points higher than that of last week. [Price Adjustement by Steel Makers] August 11, Nan Steel raised their price for bearing bar steel and steel wire by 50 yuan/ton. August 15,Huarun raised their price for bearing steel continuous casting Line,bearing ingot-casting round steel by 50 yuan/ton. August 15,Dongte raised their price for bearing steel by 100 yuan/ton. August 15,Xinye Steel raised their price for all kinds of steel by 50 yuan/ton. August 16,Changte raised their price for bearing steel by 50 yuan/ton. August 16,Xining raised their price for bearing steel ingot castings by 600 yuan/ton. August 16,Juneng raised their price for bearing steel by 80 yuan/ton.
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