Chinese domestic steel market breathes easy finally
Week 28 beckoned an auspicious opening for the domestic market in China with definite improvement in both long and flat product prices after a month long gap. As it had been forecasted by us that the prices in Dragon land where in for a round of revival fostered by
1. Slated completion of planned housing in Infrastructure projects (viz., 10 million budget houses) as H2 commences since the H1 was mere wash out on recurrent relapse.
2. Hike input costs as the iron ore prices have firmed on supply shortage recently
3. Increased buying by market operators after the stock depletion
The dampener would be another hike in lending rate by PBOC to rein inflation which refused to restrain despite consistent dosage of hike during the last one year.
| Class | 8-July | 13-July | Change | % |
| CLPPI | 7507 | 7550 | 43 | 0.6% |
| CFPPI | 7520 | 7544 | 24 | 0.3% |
| CHISPI | 7514 | 7547 | 33 | 0.4% |
CLPPI – Chinese Long Product Price Index
CFPPI – Chinese Flat Product Price Index
CHISPI – Chinese Steel Price Index
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