Oct 5 -Oct 12 Roundup of Steel Markets in China

Resource from: CBCC Likes:2988

Oct 15,2007

(Oct 5 -Oct 12) The bearing steel price was basically stable this week. The orders were sluggish, while market resources were limited. The distributors slowed down the pace of adding stock resulting from unsatisfactory deal volumes. Bearing steel price continuously kept a high level, so that downstream distributors couldn’t accept the increasing price. Because of the above-mentioned situation, the distributors were very upset. The steel makers didn’t launch any policy of price adjustment this week. In addition, the price of pig iron was stable, high chromium increased by 100 Yuan /ton, and sea Freight also rapidly increased. All of these supported the stable bearing steel price. Bearing steel market is expected to be stable next week. The Mysteel-SSPI (Special Steel Price Index) compositive index stays in 119.2, 0.5 points lower than that of last week.

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