CISA: Iron and Steel Industry still Faces Up Descending Price and High Cost of Raw Materials

Resource from: CBCC Likes:2953

Nov 10,2010

China Iron and Steel Industry Associatio(CISA) pointed out that China iron and steel industry still faces up the dual extrusion of descending steel price and the high cost of raw materials. However, what is disquieting is that the bad days is far from over. Yang Zhe, the Channel Manager of Bsteel Online Co., Ltd. said that the inflation pushed up the price of commodities like nonferrous metals while it also influences the redefining of iron ore price. The price of iron ore will increase again in 2011. World Steel Association released 2010 and 2011 Iron and Steel Prediction in the early October, and indicated that the demand of China--- the largest iron and steel market in 2010 increased 6.7% and was up to 579 million tons. The increase in 2011 will slow down to 3.55. The consuming of iron and steel in China in 2009 has increased 24.8%. Zhang Lin, the Analyst of www.langesteel.com said that judging from the domestic environment, the foreign quotation of imported ore kept high, while the atmosphere of wait-and-see is strong. In addition, the drive of increasing in steel market is not enough, even though the steel enterprises renew the stock, it will be periodical move. Meanwhile, the gross of local iron ore in China increased greatly. From January to July in 2010, the made-in-china iron ore was up to 583 million tons, which increased 127 million tons at a rate of 28%. Under the prediction that the demand will slow down, some in industry predicted that in 2011 the price of iron ore is to increasedly mildly.

(CBCC)

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