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China's Steel Market In 1st Week Of March
= Prices of hot coils rose in the various areas
The Chinese steel market in the 1st week of March showed that prices of hot-rolled steel coils, medium steel plates and so on rose in each area. Those of medium plates rose especially in the Tianjin by 310 CNY ($49), and began to a sign of full-swing price increase.

According to information about the steel market of each area released in the beginning of this week by the China Iron and Steel Association, prices of cold-rolled steel sheets rose by 30 CNY ($5) in Beijing to 5,280 CNY ($837) (tax inclusive, hereinafter the same), and returned to the level before those dropped in the middle of December last year. While, in Shanghai, they dropped by 20 CNY ($3), and they left unchanged in Guangzhou and Tianjin.

On the contrary, prices of medium plates turned into price rise such that they rose by 160 CNY ($25) in Beijing, also by 60 CNY (a little under $10) in Shanghai, by 50 CNY ($8) in guangzhou as well, and by 310 CNY in Tianjin. They were 4,310 CNY ($683) in Shanghai, and recovered to the level of November last year.

Prices of hot coils also went up. They rose by 30 CNY in Beijing, by 50 CNY in Guangzhou, and by 90 CNY ($14) in Tianjin respectively. They were left unchanged in Shanghai.

The major blast furnace mills like Baoshan Iron & Steel and Wuhan Iron & Steel increased their domestic prices for March shipment, and it looks as if the markets reacted at long last to price increase of the mills. Decrease of inventories in each area is also reported, and prices seem to be moving synergistically toward improvement. If with the market price rise, the mills increase their production, supply and demand are thought to be relaxed again. Attention is drawn to see whether the markets go on rising.
last modified : Mon 12 Mar, 2012 [09:56]
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