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Aug 29—Sep 5 Roundup of Steel Markets in China

Resource from:  CBCC Likes:2970
Sep 08,2008
(Aug 29—Sep 5) Bearing steel price remained declining trend this week, especially obvious dropping in eastern China. In this week, the 50mm hot rolling GCr15 was priced at 7050 Yuan/ton, while 100mm annealing GCr15 was quoted 8579Yuan/ton, which lowered 100Yuan/ton than last week. The steel mill stock was abundant resulting from shipment. It can’t help but sale at breakdown price.The distributors were relatively cautious for orders due to the current conditions. While downstream consumers also took an attitude of wait and see. Except a little fluctuations in part regions, the bearing steel will keep weakling trend in near future.For the charging, the price of disposed steel more dropped, pig iron saw a stable trend of falling. While ferroalloy & high chrome have been falling down.
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