Steel Price Middle East : Monday Market Monitor - China - WEEK 11

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Monday Market Monitor - China - WEEK 11 - On the run - 22 Mar, 2010

Chinese steel market, in tandem with other markets, continued to exhibit major surge in prices for both long and flat last week. But surprisingly BaoSteel announced their prices for flat products for April and the prices of pickling products, HR, galvanized products, electrical steel etc were kept unchanged.

Because of the rumors of sharp rise in iron ore price, most predict that Chinese large steel mills will hike prices by CNY 200 per tonne to CNY 300 per tonne. Thus the steel prices started a sharply and strong pulled up process from mid-March. The steel futures and over the counter electronic market also added the fuel.

Although BaoSteel’s prices unchanged announcement extinguishes the rising flames, an expert said as a positive factor to the prices hiking, the prices of the three major steel mills have been speculated ahead. So the impact of steel price adjustment has been digested in advance. Once the adjustments become clear, a pullback after the sharp hike is a normal phenomenon. Thus market participants do not have to panic too much.

It is reported that the domestic steel prices have entered an upward passage and shown vigorous increase in the past week amid which some trading houses held tight the resource and felt reluctant to sell. Currently, the demand appears good though some of the transactions are concluded between the traders and real consumption from the end users isn't fixed.

The Chinese Long Product Price Index CLPPI increased by 256 points whereas the Chinese Flat Products Index CFPPI improved by 237 points. The overall price index CHISPI grew by 245 points.

Class	12-Mar	19-Mar	Change	%
CLPPI	6326	6582	256	4.1%
CFPPI	6661	6898	237	3.6%
CHISPI	6516	6761	245	3.8%

CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index

Long Products

Category	12-Mar	19-Mar	Change	%
PI-WRC	5493	5689	196	3.6%
PI-Rebar	7333	7663	330	4.5%

PI - Product Index

Flat Products

Category	12-Mar	19-Mar	Change	%
PI-PLTS	5926	6197	272	4.6%
PI-HR	6525	6795	270	4.1%
PI-CR	7716	7876	159	2.1%
PI-GP	6758	6877	119	1.8%

PI - Product Index

To know more about these indices please visit
http://steelprices-china.com/spi_services/spi.html

1. Long products

Billets
150*150
Q235

Location	CNY	USD
Fujian Province	259	38
Hebei Province	330	48
Jiangsu Province	250	37
Shandong Province	330	48
Shanxi Province	350	51
Tianjin	309	45

Change is on March 19th 2010 as compared to March 12th 2010
Change is per tonne

WRC
6.5mm
Common

Location	CNY	USD
Changsha	268	39
Chengdu	352	51
Guiyang	354	52
Hangzhou	230	34
Kunming	334	49
Nanjing	244	36
Shanghai	240	35
Urumchi	0	0
Zhengzhou	197	29

Change is on March 19th 2010 as compared to March 12th 2010
Change is per tonne

Rebars
20mm
HRB 400

Location	CNY	USD
Beijing	359	52
Changsha	359	52
Chengdu	297	43
Chongqing	317	46
Fuzhou	228	33
Guangzhou	269	39
Guiyang	297	43
Hangzhou	250	37
Harbin	317	46
Hefei	208	30
Jinan	269	39
Kunming	317	46
Lanzhou	297	43
Nanchang	342	50
Nanjing	239	35
Shanghai	250	37
Shenyang	378	55
Shijiazhuang	349	51
Taiyuan	298	44
Tianjin	349	51
Urumchi	177	26
Wuhan	249	36
Xian	247	36
Zhengzhou	259	38

Change is on March 19th 2010 as compared to March 12th 2010
Change is per tonne

2. Flats products

HRC
4.75mm
Common

Location	CNY	USD
Beijing	300	44
Changsha	319	47
Chengdu	265	39
Chongqing	243	36
Fuzhou	300	44
Guangzhou	229	34
Hangzhou	302	44
Harbin	319	47
Hefei	200	29
Jinan	310	45
Kunming	250	37
Lanzhou	320	47
Nanchang	300	44
Nanjing	284	42
Shanghai	270	40
Shenyang	229	34
Shijiazhuang	304	45
Taiyuan	249	37
Tianjin	322	47
Urumchi	299	44
Wuhan	248	36
Xian	318	47
Zhengzhou	308	45

Change is on March 19th 2010 as compared to March 12th 2010
Change is per tonne

Plates
20mm
Common

Location	CNY	USD
Beijing	357	52
Changsha	318	47
Chengdu	262	38
Chongqing	387	57
Fuzhou	328	48
Guangzhou	248	36
Hangzhou	369	54
Harbin	267	39
Hefei	258	38
Jinan	329	48
Kunming	202	30
Lanzhou	454	67
Nanchang	278	41
Nanjing	339	50
Shanghai	279	41
Shenyang	327	48
Taiyuan	388	57
Tianjin	467	68
Urumchi	353	52
Wuhan	352	52
Xian	504	74
Zhengzhou	364	53

Change is on March 19th 2010 as compared to March 12th 2010
Change is per tonne

CR
1.0mm
Common

Location	CNY	USD
Beijing	200	29
Changsha	330	48
Chengdu	249	37
Chongqing	99	15
Fuzhou	250	37
Guangzhou	250	37
Hangzhou	250	37
Harbin	199	29
Hefei	50	7
Jinan	200	29
Kunming	201	29
Lanzhou	148	22
Nanchang	230	34
Nanjing	250	37
Qingdao	170	25
Shanghai	230	34
Shenyang	299	44
Shijiazhuang	300	44
Taiyuan	150	22
Tianjin	149	22
Urumchi	400	59
Wuhan	199	29
Xian	201	29
Zhengzhou	420	62

Change is on March 19th 2010 as compared to March 12th 2010
Change is per tonne

HDG
0.5mm
Common

Location	CNY	USD
Beijing	250	37
Boxing	121	18
Chongqing	158	23
Fuzhou	104	15
Guangzhou	248	36
Hangzhou	99	15
Harbin	250	37
Nanchang	54	8
Shanghai	219	32
Shenyang	199	29
Tianjin	428	63
Wuhan	51	7
Xian	99	15
Zhengzhou	130	19

Change is on March 19th 2010 as compared to March 12th 2010
Change is per tonne

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(Sourced fromwww.steelprices-china.com)

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