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| September sees good start in upward trend in Chinese steel prices - 07 Sep, 2010 | |||||||||||||||||||||||
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Stepping into September, construction steel price in China went up quickly, and inventory of steel products has also declined by 26% as compared to the high level in previous period. Construction steel price in September have seen a good start, followed by the recovery of end demand. But the too fast upward trend also has negative effect as the balance between suppliers and demanders seem to be stalemated. Therefore, the adjustment and upward are still mixed and will continue. Recently, the second level rebar price in Shanghai market has been increased to around CNY 4060 per tonne up by CNY 130 per tonne in only one week and the third level fine quality rebar price has been also increased to around CNY 4150 per tonne up by CNY 120 per tonne in the same week. Following the previous fall, the upward trend of steel price is resumed so quickly and so sharply. Therefore, it is reasonable to say that the recent rebound has created a new record high. But Shanghai is not the single one. As said by insiders, construction steel spot price in the whole domestic market of China has ended the fall and begun to rise. Largely, per tonne of steel products has been raised by CNY 70 to CNY 150. In the first half of last week, driven by the bullish situation in futures market, construction steel price in major markets such as Shanghai and Beijing is pushed upward first, leading the whole market to better conditions. While in the second half of last week, due to the influence of energy conservation and emission reduction policy and Shagang Steel’s bold action in increasing factory price, market confidence is strengthened significantly. Thus price will continue rising. 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
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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