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Feb 6 ---Feb 13 Roundup of Steel Markets in China

Resource from:  CBCC Likes:2973
Feb 18,2009
(Feb 6---Feb 13) Bearing steel price was basically stable this week. 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 same as last week. The deal volumes were not satisfactory. Becasuse that downstream distributors were in period of downturn and they had enough stock, so they weren’t anxious about any purchase in short term. The factory price of steel was basically stable. According to the Quality Steel Early Warning Conference held on Feb 12, most steel factories will still focus on reducing production to ensure the market stability, At present, some steel price experienced declining to some extent, especially deformed steel. Based on the cost, it is expected that bearing steel price will keep a stable level.
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