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Oct 6---Oct 10 Roundup of Steel Markets in China

Resource from:  CBCC Likes:2972
Oct 13,2008
(Oct 6---Oct 10) The bearing steel market experienced greatly decreased after the National Holiday, which exceed expectations, especially in eastern China. The whole trend was in a terrible bad way. In this week, the 50mm hot rolling GCr15 was priced at 6282 Yuan/ton, while 100mm annealing GCr15 was quoted 8082Yuan/ton,which respectively dropped 400Yuan/ton and 300 Yuan/ton . The deal volumes were unsatisfactory. Downstream distributor generally took an attitude of wait-and-see. They didn’t have confidence to increase stock resulting from fall in price. the bearing steel market had been steeped in the present financial crisis. Currently, besides pig iron, ore ,deposed steel,the price of raw material dropped lower and lower.It will be more difficult for bearing steel market change the present situation.
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