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August 17 -August 24 Roundup of Steel Markets in China

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Aug 28,2007
(August 17 -August 24) The continuous casting and ingot casting were respectively raised by 50 yuan/ton and 80-100 yuan/ton as market upswing. Most steel makers had moved up the price of bearing steel, which played an important role in promoting the market transactions. According to the feedback from the market,the deal volumes were higher than that of last week, especially in east China and northeast area. While in southwest regions, the deals were relative stagnant. Currently ,the raw material prices still maintain a high level.The market resources were in a lower level and whole steel market showed signs of increasing trend, all of which indicate the bearing steel will rise steadily. The Mysteel-SSPI (Special Steel Price Index) compositive index stays in 111.5, 1.5 points higher than that of last week. [Price Adjustement by Steel Makers] August 21,Shi Steel raised their price for kinds of hot rolled round steel and coutinuous casting respectively by 80 yuan/ton and 120 yuan/ton. August 22,Xingcheng raised their price for bearing steel by 200 yuan/ton. August 22,Xingye Steel raised their price for steel products by 150 yuan/ton. August 22,Shangdong Juneng Steel raised their price for all kinds of steel by 100 yuan/ton. August 22,Wuxi Huarun raised their price for steels by 150 yuan/ton. August 22,Changte raised their price for GC15 by 100 yuan/ton. August 24,Huai Steel raised their price for bearing steel by 100 yuan/ton. August 24,E Steel raised their price for quality steel by 100 yuan/ton.
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