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Roundup of China's Bearing Steel Market Dated Sept. 9 to 16

Resource from:  cbcc Likes:3059
Sep 22,2005
From Sept. 9 to 16, there were little price fluctuation in the bearing steel market. The price was nearly the same as it was some weeks before. Influenced by the falling price of common steel, transaction values kept in the average level; collective purchase was rare; end-users were hesitating before placing any orders. Concerning inventory, lower inventories was the feature among most distributors. For the negative price-trend, distributors were trying to sell out their inventory products as soon as possible, let alone purchasing additional products. About raw material, market of ferrochrome was stagnant. Currently, the price of high carbon ferrochrome was between RMB5800-5900 yuan/ton in most of China, in Northest China, howerver, price of carbon ferrochrome could hit RMB10500-11000 yuan/ton. Predictively, price of carbon ferrochrome will decline by about 200yuan/ton in Northeast China's steel market. Quality, high-tech content bearing steel are still in large demand in China.
(cbcc)
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