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Jun 13----Jun 20 Roundup of Steel Markets in China

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Jun 23,2008
(Jun 13----Jun 20) The bearing steel showed basically stable except a little rising in some areas. Until this weekend, The 50mm hot rolling GCr15 was priced at 7370 Yuan/ton and 100mm annealing GCr15 reached 8750 Yuan/ton. The volumes in partly regions were general. The steel makers were in a panic resulting from the price rising and for the distributors and business person, they had a wait-and-see mental attitude.As far as the raw material, the price of pig iron and disposed steel were still rising. For the ferroalloy,the price of high chrome has fallen. The National Development and Reform Commission gone up the price of electricity and finished and temporarily intervene in the coal price which was the highlight of this week. It noticed that the price of gasoline and diesel oil was increased 1000Yuan/ton since Jun 2o and coal oil in aviation raised 1500Yuan/ton.in addition, the electrovalence was move up to 2.5 fen/kilowatt-hour and liquefaction and natural gas kept the previous price. The market demand must be affected by the off-season coming. It is estimated that bearing steel will basically remain stable.
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