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| H Beam prices showing mild correction - 01 Jul, 2009 | ||||||||||||||||||||||
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H Beam prices which had been in oblivion have made a turnaround for good in the last fortnight. The seeds of this revival were sown in the green haven of China basking in post stimulus euphoria although other regions viz., Europe and Middle East remains largely untouched. Mills in China have announced July prices with an average increase of CNY 60-150 pmt as follows
Size in MM Inclusive of 17% VAT Prices are in CNY per tonne EXW basis (Source: www.steelprices-china.com) In Shanghai the prices have climbed by CNY 150 per tonne (USD 22 per tonne) since last week. Hyundai Steel has announced hike of USD 50 pmt in export prices of July August shipment to USD 580 per tonne CFR Middle East port although owing to heavy inventory there is bleak prospect of booking in the in the short term. The hike in prices has definitely set a positive tempo in the hitherto dormant to negative market sentiments but its acceptability is still ambiguous due to lack of transactions. At the same time the increase might result in fall of prices although albeit at the peril of losses to the mills haunted by the below expected settlement of Iron ore prices leading to hike in input costs. To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months. (Sourced from www.steelprices-middleeast.com) | ||||||||||||||||||||||
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