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| HOME >> Topics List >> January, 2006 >> 17 (Tue) |
| China's Ansteel Ups Domestic Prices For HR Coils, CR Sheets |
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Chinese integrated steelmaker Anshan Iron & Steel Group Corp (Ansteel) is reported to have increased its domestic sales prices by Yn50/ton (US$6) for HR coils and by Yn80/ton (US$10) for CR sheets for February shipments. It remains to be seen whether Ansteel's price increases will help get domestic transaction prices to bottom out completely toward a rebound. In China, local market prices have moved up by Yn200/ton (US$25) so far for HR coils and CR sheets in some areas. As a result, there is a possibility that Ansteel has opted to price up HR coils and CR sheets in the belief that domestic market prices have bottomed out. In this connection, it remains to be seen whether other integrated steelmakers such as Baoshan Iron & Steel Co (Baosteel) will seek increased prices in their domestic shipments for the April-June quarter. For their part, Japan's integrated steelmakers keep close watch on whether Baosteel will at least hold back on any price reduction for the April-June quarter. In China, various steelmakers were at a price-cutting war with one another until recently. As a result, CR sheet prices declined to less than Yn3,800 (US$470) in some cases. In the case of Ansteel, the company quoted a decreased HR coil price in the equivalent of US$295/ton for January shipments, a price level of US$200/ton for HR coils for the first time in four years. |
| last modified : Fri 20 Jan, 2006 [11:26] |
