Jaway Stainless Steel

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

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