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Nov 28---Dec 5 Roundup of Steel Markets in China

Resource from:  CBCC Likes:2959
Dec 11,2008
(Nov 28---Dec 5) Bearing steel price basically kept a stable level this week,little fluctuation in some areas.Until the end of this week, the 50mm hot rolling GCr15 was priced at 4389 Yuan/ton, while 100mm annealing GCr15 was quoted 6750Yuan/ton, which equal to last week. Some steel makers increased the factory price of bearing steel,ranging from 200Yuan/ton to 300Yuan/ton. South steel respectively increased steel bar and wire rod to 300Yuan/ton and 200Yuan/ton.Xingcheng raised GCr15 to 300 Yuan/ton,Juneng went up 200Yuan/ton. The leading cause of steel price increasing was rising steel costs. As far as bearing steel stock was concerned,it was limited. However, the downstream distributors'poor demand restricted the market rising. It's expected that bearing steel price will remain stable.
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