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Feb 1 ---Feb 6 Roundup of Steel Markets in China

Resource from:  CBCC Likes:2969
Feb 10,2009
( Feb 1---Feb 6) Bearing steel price experienced slightly rise after the first week of the spring festival. Until the end of this week, the 50mm hot rolling GCr15 was priced at 4661 Yuan/ton, while 100mm annealing GCr15 was quoted 6875Yuan/ton, which respectively higher 104Yuan/ton and 61Yuan/ton than that of before spring festival . Market requirements were not fully started and the overall turnover was small,mainly because that the majority of downstream distributors haven’t fully operated. It’s expected that the market trade will be better after The Lantern Festival. Some steel makers increased the factory price of bearing steel. Bao Steel and Huarun respectively increased bearing steel by 500 Yuan/ton and 100 Yuan/ton. From the current cost, the steel makers were negative about bearing steel production .Besides that the price between hot rolling GCr15 and 45 # steel price was still "unreasonable" ,the material prices were stil rising after spring festival. Individuals consider that the later bearing steel requirement will be increase, depending on the production costs and market demand.
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