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| Aggressive production pruning sparkles Chinese steel prices - 07 Sep, 2010 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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With the Chinese government remaining adamant in its resolve to reduce emission and conserve energy truncating production capacities in steel sector, it is expected that the ensuing demand supply dis balance will catapult the steel prices by whopping 10% in H2. The reflections of this mesmerizing tempo can be seen on the spot and future market prices which zoomed by an astonishing 3% on 6th September.
CLPPI - Chinese Long Product Price Index CFPPI - Chinese Flat Product Price Index CHISPI - Chinese Steel Price Index
PI-Product Index
PI-Product Index The Chinese government failure to accomplish the 20% cut in emission during 11th Five Year Plan has propelled authorities to intensify efforts make up in the penultimate year. For a change the central and local authorities are working in tandem. Their concerted effort is reflecting in the recent rationing of electricity to steelworks. The urgency has been accentuated by the slated review meeting of Central Committee, CPC in November. The steel industry will bear the brunt of such emission reduction measures. On one hand, the power rate is sure to go up in short term, on the other, the supply and demand is to change accordingly. The impact will be felt more by the steelmakers rather than downstream users. Hence the cuts will have immediate fallout on supply rather than demand pushing the prices. Furthermore, autumn being the busy season for steel consumption destocking will be hastened thus providing the thrust to steel price. Third, the emission reduction campaign will bear more fruits in the future. Since the local governments are arranging the activities to be executed phase wise improving the demand supply correlation thereby keeping the prices afloat. Fourth, the prices of iron ore and coking coal will hold on at a high level, possibly supporting the steel price to obtain some 10% rise before reaching a new high in this year. The hike in steel prices will pull the iron ore prices in the short run thereby affecting the cost of production. Fifth, long product prices are more likely to be affected vis à vis flats. It is expected 70% of the longs capacity will be affected against 30% of flats. Reconstruction activities in flood stricken areas will bring momentum to longs demand moreover the automobile sector is recovering giving fillip to demand. www.steelprices-china.com is a comprehensive service for tracking real time domestic steel prices and trends in China on daily basis. The scope of service includes 1. Domestic pricing information in China 2. Export levels from Turkey, Rotterdam, China, India and Black Sea The service is specifically designed to assist steel makers, traders, users and others connected with the industry to keep track of real time prices prevailing in the market and thus comprehensively evaluate steel pricing trends in the trend setting region Methodology and access 1. Benchmark products in each category with fixed commonly used sizes and grades 2. Average transaction levels which have settled well, based on continuous interactions with domestic mills and traders 4. On fixed market oriented payment terms 5. Daily updates 6. Data available since July 2008 5. Access through web site Products covered 1. Input materials and semis 2. Long Products 3. Flat Products 5. FOB levels for export FOB Black Sea, China, Turkey and India Other features The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available. In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data. Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news. Subscription charges for 12 months period Subscription charges for 12 months period
How to subscribe 1. Register at www.steelprices-china.com and pay on line or ask for invoice 2. Send mail to admin@steelprices-china.com. (Sourced from www.steelprices-china.com) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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