Jaway Stainless Steel

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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