Oct 19 -Oct 26 Roundup of Steel Markets in China

Resource from: CBCC Likes:2996

Oct 29,2007

(Oct 19 -Oct 26) The bearing steel price was increased this week. The orders were sluggish, while we see a slight increasing for market resources. For the steel makers, Xinye steel、Xingcheng Steel and Su Steel lanched price adjustment policy. In addition, Nan Steel respectively increased bearing steel and wire steel by 100 yuan/ton and 200 yuan/ton. For the raw material,the price of pig iron for steelmaking was a little increased. Shandong and South China area raise by 50yuan/ton and 20 yuan/ton. More to the point,the high chromium continuously increased by 150 yuan/ton. The quote from distributors were relatively high,the orders weren't satisfactory. Influnced by the price adjustment and raw material price,the current market price showed signs of steady increasing. Bearing steel market is expected to be increased next week. The Mysteel-SSPI (Special Steel Price Index) compositive index stays in 118.7, same with that of last week. [Price Adjustement by Steel Makers] Oct 24,Su Steel raised their price for bearing steel by 100 yuan/ton,GCr15 priced 5010 yuan/ton. Oct 24,Xinye Steel raised their price for bearing steel by 150 yuan/ton. Oct 26,Xingcheng raised their price for standard bearing steel by 200 yuan/ton.

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