Jaway Stainless Steel

Monday Market Monitor - China - WEEK 27 - Flash in the pan

Last week was path breaking in unending sob story of steel market in China. In this morose and pathetic market condition even a brief improvement in prices came as whiff of fresh air.

The unbroken streak of purging over the last 1 month seemed unending at least in Q3 as apart from the interest rate hike setting of monsoon was taking its toll.

The downstream demand from the construction segment is urging to pick up as the pompous 10 million housing projects is yet to warm up. On the other hand the input material cost of iron ore which corrected over the last fortnight has shown signs of turnaround over the last one week as mills have opened buying after nearly a month recess.

In our opinion it is the proverbial flash in pan as the demand outlook continues to be bleak in the short term as the demand from construction segment will languish during monsoon and high lending rates.

The Chinese Long Product Price Index CLPPI inclined by 30 points last week whereas the Chinese Flat Products Index CFPPI has also gone up by 10 points. The overall price index CHISPI inclined by 18 points.

Class 01-Jul 08-Jul Change %
CLPPI 7477 7507 30 0.4%
CFPPI 7510 7520 10 0.1%
CHISPI 7496 7514 18 0.2%


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

Long Products

Category 01-Jul 08-Jul Change %
PI-WRC 6198 6223 25 0.4%
PI-Rebar 9025 9061 36 0.4%


PI - Product Index

Flat Products

Category 01-Jul 08-Jul Change %
PI-PLTS 6885 6863 -22 -0.3%
PI-HR 7736 7766 30 0.4%
PI-CR 7293 7272 -21 -0.3%
PI-GP 7518 7510 -8 -0.1%


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 -50 -8
Hebei Province 90 14
Jiangsu Province 20 3
Shandong Province -20 -3
Shanxi Province -30 -5
Tianjin 70 11


Change is on July 8th as compared to 1st July 2011
Change is per tonne

WRC
6.5mm
Common

Location CNY USD
Changsha 60 9
Chengdu 0 0
Guiyang 10 2
Hangzhou 20 3
Kunming -50 -8
Nanjing 10 2
Shanghai 70 11
Urumchi 0 0
Zhengzhou 0 0


Change is on July 8th as compared to 1st July 2011
Change is per tonne

Rebars
20mm
HRB 400

Location CNY USD
Beijing 50 8
Changsha 10 2
Chengdu 0 0
Chongqing 10 2
Fuzhou 0 0
Guangzhou 0 0
Guiyang 20 3
Hangzhou 20 3
Harbin -10 -2
Hefei 20 3
Jinan 50 8
Kunming 0 0
Lanzhou 50 8
Nanchang 10 2
Nanjing 50 8
Shanghai 20 3
Shenyang 20 3
Shijiazhuang 50 8
Taiyuan 0 0
Tianjin 50 8
Urumchi 0 0
Wuhan 40 6
Xian 20 3
Zhengzhou -10 -2


Change is on July 8th as compared to 1st July 2011
Change is per tonne

Angle
#5

Location CNY USD
Shanghai 0 0
Hangzhou 0 0
Nanjing -10 -2
Jinan -50 -8
Hefei 0 0
Fuzhou -50 -8
Nanchang 0 0
Guangzhou 0 0
Changsha 0 0
Wuhan 0 0
Zhengzhou 50 8
Beijing 0 0
Tianjin 0 0
Shijiazhuang 0 0
Taiyuan -10 -2
Shenyang 0 0
Harbin 0 0
Chongqing 0 0
Chengdu -20 -3
Kunming 0 0
Xian 0 0
Lanzhou -10 -2
Urumchi 0 0


Change is on July 8th as compared to 1st July 2011
Change is per tonne

Channel
#16

Location CNY USD
Shanghai 0 0
Hangzhou 0 0
Nanjing -10 -2
Jinan -10 -2
Hefei 0 0
Fuzhou 0 0
Nanchang 0 0
Guangzhou 0 0
Changsha 0 0
Wuhan -30 -5
Zhengzhou 0 0
Beijing 0 0
Tianjin 130 20
Shijiazhuang 0 0
Taiyuan -10 -2
Shenyang -20 -3
Harbin -70 -11
Chongqing 0 0
Chengdu -30 -5
Kunming 0 0
Xian 0 0
Lanzhou -10 -2
Urumchi 0 0


Change is on July 8th as compared to 1st July 2011
Change is per tonne

Beam
#25

Location CNY USD
Shanghai 0 0
Hangzhou 0 0
Nanjing -10 -2
Jinan -20 -3
Hefei 0 0
Fuzhou 50 8
Nanchang 0 0
Guangzhou 0 0
Changsha 0 0
Wuhan -30 -5
Zhengzhou 0 0
Beijing 0 0
Tianjin 0 0
Shijiazhuang 0 0
Taiyuan 0 0
Shenyang 0 0
Harbin -20 -3
Chongqing 0 0
Chengdu 0 0
Kunming 0 0
Xian 0 0
Lanzhou -10 -2
Urumchi 0 0


Change is on July 8th as compared to 1st July 2011
Change is per tonne

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