August 24 -August 31 Roundup of Steel Markets in China

Resource from: CBCC Likes:3003

Sep 03,2007

(August 24 -August 31) The overall bearing steel market showed a sign of steady rising this week, increasing by approximately 50 yuan/ton. Influenced by the price adjustment policy, the bearing steel price was stable in early stage and little change in latter period. According to the feedback from the market,the deal volumes were satisfactory this week,especially in east China and northeast area. Currently,the market resources were increasing to some extent and will remain increasing next week. By force of cost, the bearing steel price will maintain firm. In conclusion, the trend of bearing steel will remain steady rising. The Mysteel-SSPI (Special Steel Price Index) compositive index stays in 114.4, 2.9 points higher than that of last week. [Price Adjustement by Steel Makers] August 27, Northeast Special Steel raised their price for special steel products by 150 yuan/ton. August 28,Changte raised their price for GGr15 by 50 yuan/ton. August 30,Shandong Juneng raised their price for kinds of steel by 100 yuan/ton. August 31,Xingcheng Special Steel raised their price for alloy steels by 200-800 yuan/ton. August 31,Huaigang raised their price for quality steel by 100 yuan/ton.

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