Sep 14-Sep 21 Roundup of Steel Markets in China

Resource from: CBCC Likes:2992

Sep 24,2007

(Sep 14-Sep 21)The whole bearing steel market basically maintained a stable level in previous stage, but a little increasing in latter stage, especially in north China and central China area. The orders declined compared with that of last week, while market resources were nearly the same as last week. Generally speaking,the bearing steel price kept a high level, which influenced the transactions of bearing steel. The downstream distributors couldn't stand the increasing price and decreased the orders. The distributors' stock was limited .With the advent of the National Day, the distributors had intention to increase the existing stock. As far as the raw materials were concerned, the price of high chromium obviously increased, but market resources were relative limited. So, the bearing steel price will increase to some extent next week. It is unknown whether the orders will be satisfactory or not. The Mysteel-SSPI (Special Steel Price Index) compositive index stays in 119.5, 1.7 points higher than that of last week. [Price Adjustement by Steel Makers] Sep 15,Changte raised their price for GCr15 by 200 yuan/ton. Sep 19,Xinye steel raised their price for all special steel by 100 yuan/ton. Sep 20,Northeast Special steel raised their price for special steel by 200 yuan/ton.

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