Chinese domestic market coils on global turbulence
Day 2 after the murky Monday was a terrible Tuesday with the prices of long and flat products plummeting with alacrity. Living up to the global trend the Chinese domestic market capitulated with gradually.
However the steel mills went in huddle opting to wait and watch before committing any prices correction for September. Given the indomitable nature of Chinese resilience a turnaround is on the offing at the earliest opportunity. Despite the shrill of power rationing and rationalisation the production figures have been ascending m o m with impunity.
Recent past is puckered with resurgent production growth averaging almost 1.95 million tonnes in mid July against all odds. The social inventory has all through been maintained at healthy levels signifying regular consumption.
Recoil won’t be far given the demand fundamentals being strong on the following counts:
1. 10 million budget housing
2. Urbanisation in tier 2 & 3 cities
3. Pick up in demand of automobiles and white goods
However till the auspicious turn around the only option is to keep the fingers crossed.
Rebar
20mm
HRB 400
| Location | CNY |
| Shanghai | -40 |
| Hangzhou | -50 |
| Nanjing | -50 |
| Jinan | -50 |
| Hefei | -70 |
| Fuzhou | -90 |
| Nanchang | -20 |
| Guangzhou | -20 |
| Changsha | -70 |
| Wuhan | -40 |
| Zhengzhou | -20 |
| Beijing | -40 |
| Tianjin | -30 |
| Shijiazhuang | -20 |
| Taiyuan | 0 |
| Shenyang | -30 |
| Harbin | 0 |
| Chongqing | -40 |
| Chengdu | -30 |
| Guiyang | -10 |
| Kunming | 0 |
| Xian | -40 |
| Lanzhou | 0 |
| Urumchi | 100 |
Change is on Aug 9th as compared to 5th August 2011
In CNY per tonne
HRC
4.75mm
Common
| Location | CNY |
| Shanghai | -50 |
| Hangzhou | -20 |
| Nanjing | -30 |
| Jinan | 0 |
| Hefei | -50 |
| Fuzhou | -50 |
| Nanchang | 0 |
| Guangzhou | -40 |
| Changsha | -20 |
| Wuhan | -40 |
| Zhengzhou | -20 |
| Beijing | -30 |
| Tianjin | -40 |
| Shijiazhuang | -30 |
| Taiyuan | -20 |
| Shenyang | -30 |
| Harbin | -40 |
| Chongqing | -20 |
| Chengdu | -20 |
| Kunming | -20 |
| Xian | 0 |
| Lanzhou | 0 |
| Urumchi | 50 |
Change is on Aug 9th as compared to 5th August 2011
In CNY per tonne
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
Related Products
