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Dec 7 -Dec 14 Roundup of Steel Markets in China

Resource from:  CBCC Likes:2990
Dec 17,2007
(Dec 7 -Dec 14 ) The overall bearing steel price showed sign of continuous rising. The average price of hot rolling GC15 increased to 5340 Yuan/ton from 5210Yuan/ton last week, while annealing GC15 increased to 6570 Yuan/ton from 6480 Yuan/ton last week. The deal volumes were not satisfactory,and the market resources were limited. The factory price of bearing steel didn’t experience obvious price adjustment this week. The distributors had to introduce bearing steel rationing because of limited market resources, which was the reason of high bearing steel price. For the raw material, the price of high chromium declind 50 Yuan/ton. while Pig iron ore kept a rising level. The Mysteel-SSPI (Special Steel Price Index) compositive index stays in 126.0, 1.9 point higher than that of last week.
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