jawaysteel808Monday Market Monitor - China - WEEK 25 - Dragon still on knees
Chinese steel market was reeling under virulent shivers as the prices collapsed last week. Although the fissures had appeared about a fortnight ago but there was uneasy silence ever since with minor corrections.
It seems the bottled recessionary forces have unleashed ripping the market apart. Prices of both long and flat caved in suddenly indicative of pessimism writ in the market.
A combination of the following factors has thickened the atmosphere culminating in the following
1. Unflagging production leading to stockpiles
2. Fading demand with the approach of monsoon
3. Hike in reserve ratio by another 0.5% on 14th June amidst hike in CPI by 5.5% YoY in June
The only silver lining is the anticipated demand from the incubating plan to construct 10 million subsidized in the 12 Five Year Plan which might just provide the spark for a turnaround.
The Chinese Long Product Price Index CLPPI declined by 122 points last week whereas the Chinese Flat Products Index CFPPI has also gone down by 69 points. The overall price index CHISPI declined by 92 points.
| Class | 17-Jun | 24-Jun | Change | % |
| CLPPI | 7635 | 7513 | -122 | -1.6% |
| CFPPI | 7613 | 7544 | -69 | -0.9% |
| CHISPI | 7623 | 7531 | -92 | -1.2% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category | 17-Jun | 24-Jun | Change | % |
| PI-WRC | 6315 | 6223 | -92 | -1.5% |
| PI-Rebar | 9232 | 9074 | -158 | -1.7% |
PI - Product Index
Flat Products
| Category | 17-Jun | 24-Jun | Change | % |
| PI-PLTS | 7010 | 6938 | -72 | -1.0% |
| PI-HR | 7847 | 7772 | -75 | -1.0% |
| PI-CR | 7390 | 7314 | -76 | -1.0% |
| PI-GP | 7545 | 7530 | -15 | -0.2% |
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 | -110 | -16 |
| Hebei Province | -160 | -23 |
| Jiangsu Province | -90 | -13 |
| Shandong Province | -100 | -15 |
| Shanxi Province | -30 | -4 |
| Tianjin | -130 | -19 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
WRC
6.5mm
Common
| Location | CNY | USD |
| Changsha | -200 | -29 |
| Chengdu | -30 | -4 |
| Guiyang | -50 | -7 |
| Hangzhou | 20 | 3 |
| Kunming | -60 | -9 |
| Nanjing | -60 | -9 |
| Shanghai | -80 | -12 |
| Urumchi | 0 | 0 |
| Zhengzhou | -50 | -7 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
Rebars
20mm
HRB 400
| Location | CNY | USD |
| Beijing | -130 | -19 |
| Changsha | -220 | -32 |
| Chengdu | -20 | -3 |
| Chongqing | -70 | -10 |
| Fuzhou | -80 | -12 |
| Guangzhou | -110 | -16 |
| Guiyang | -20 | -3 |
| Hangzhou | -30 | -4 |
| Harbin | -40 | -6 |
| Hefei | -110 | -16 |
| Jinan | -90 | -13 |
| Kunming | -110 | -16 |
| Lanzhou | 0 | 0 |
| Nanchang | -100 | -15 |
| Nanjing | -110 | -16 |
| Shanghai | -60 | -9 |
| Shenyang | -50 | -7 |
| Shijiazhuang | -140 | -20 |
| Taiyuan | -100 | -15 |
| Tianjin | -160 | -23 |
| Urumchi | 0 | 0 |
| Wuhan | -180 | -26 |
| Xian | -90 | -13 |
| Zhengzhou | -100 | -15 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
Angle
#5
| Location | CNY | USD |
| Shanghai | -30 | -4 |
| Hangzhou | 50 | 7 |
| Nanjing | -20 | -3 |
| Jinan | -20 | -3 |
| Hefei | 0 | 0 |
| Fuzhou | -40 | -6 |
| Nanchang | -60 | -9 |
| Guangzhou | -30 | -4 |
| Changsha | -20 | -3 |
| Wuhan | -30 | -4 |
| Zhengzhou | 0 | 0 |
| Beijing | 0 | 0 |
| Tianjin | -20 | -3 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Shenyang | 0 | 0 |
| Harbin | 0 | 0 |
| Chongqing | -60 | -9 |
| Chengdu | -50 | -7 |
| Kunming | 0 | 0 |
| Xian | 0 | 0 |
| Lanzhou | 0 | 0 |
| Urumchi | 0 | 0 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
Channel
#16
| Location | CNY | USD |
| Shanghai | -40 | -6 |
| Hangzhou | 0 | 0 |
| Nanjing | -10 | -1 |
| Jinan | -20 | -3 |
| Hefei | 0 | 0 |
| Fuzhou | -20 | -3 |
| Nanchang | -60 | -9 |
| Guangzhou | -30 | -4 |
| Changsha | -20 | -3 |
| Wuhan | 0 | 0 |
| Zhengzhou | 0 | 0 |
| Beijing | 0 | 0 |
| Tianjin | -130 | -19 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | -20 | -3 |
| Shenyang | 0 | 0 |
| Harbin | -40 | -6 |
| Chongqing | -60 | -9 |
| Chengdu | -60 | -9 |
| Kunming | -50 | -7 |
| Xian | 0 | 0 |
| Lanzhou | 0 | 0 |
| Urumchi | 0 | 0 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
Beam
#25
| Location | CNY | USD |
| Shanghai | -20 | -3 |
| Hangzhou | -20 | -3 |
| Nanjing | -10 | -1 |
| Jinan | -50 | -7 |
| Hefei | 0 | 0 |
| Fuzhou | -30 | -4 |
| Nanchang | -60 | -9 |
| Guangzhou | -30 | -4 |
| Changsha | 0 | 0 |
| Wuhan | -20 | -3 |
| Zhengzhou | -50 | -7 |
| Beijing | 0 | 0 |
| Tianjin | -30 | -4 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | -20 | -3 |
| Shenyang | 0 | 0 |
| Harbin | -40 | -6 |
| Chongqing | -30 | -4 |
| Chengdu | -30 | -4 |
| Kunming | -20 | -3 |
| Xian | 0 | 0 |
| Lanzhou | 0 | 0 |
| Urumchi | 0 | 0 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
2. Flats products
HRC
4.75mm
Common
| Location | CNY | USD |
| Beijing | -80 | -12 |
| Changsha | -80 | -12 |
| Chengdu | -20 | -3 |
| Chongqing | -30 | -4 |
| Fuzhou | -80 | -12 |
| Guangzhou | -50 | -7 |
| Hangzhou | -70 | -10 |
| Harbin | -70 | -10 |
| Hefei | -100 | -15 |
| Jinan | -70 | -10 |
| Kunming | -100 | -15 |
| Lanzhou | -150 | -22 |
| Nanchang | -90 | -13 |
| Nanjing | -60 | -9 |
| Shanghai | -80 | -12 |
| Shenyang | -40 | -6 |
| Shijiazhuang | -10 | -1 |
| Taiyuan | -130 | -19 |
| Tianjin | -40 | -6 |
| Urumchi | 0 | 0 |
| Wuhan | -50 | -7 |
| Xian | -100 | -15 |
| Zhengzhou | -30 | -4 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
Plates
20mm
Common
| Location | CNY | USD |
| Beijing | -20 | -3 |
| Changsha | -90 | -13 |
| Chengdu | -60 | -9 |
| Chongqing | -40 | -6 |
| Fuzhou | -40 | -6 |
| Guangzhou | -40 | -6 |
| Hangzhou | 10 | 1 |
| Harbin | -60 | -9 |
| Hefei | -90 | -13 |
| Jinan | -90 | -13 |
| Kunming | -10 | -1 |
| Lanzhou | -140 | -21 |
| Nanchang | -30 | -4 |
| Nanjing | -110 | -16 |
| Shanghai | -20 | -3 |
| Shenyang | -30 | -4 |
| Taiyuan | -40 | -6 |
| Tianjin | -60 | -9 |
| Urumchi | 0 | 0 |
| Wuhan | -140 | -21 |
| Xian | -20 | -3 |
| Zhengzhou | 10 | 1 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
Pig Iron
Z18-22
Foundry
| Location | CNY | USD |
| Kunming | 0 | 0 |
| Changzhou | 0 | 0 |
| Xuzhou | 0 | 0 |
| Linyi | -30 | -4 |
| Weihai | -150 | -22 |
| Wuan | -30 | -4 |
| Taiyuan | 0 | 0 |
| Yicheng | -50 | -7 |
| Linzhou | 0 | 0 |
| Guiyang | 0 | 0 |
| Harbin | 0 | 0 |
| Anshan | 0 | 0 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
HR Strip
183*2.75
| Location | CNY | USD |
| Shanghai | 10 | 1 |
| Hangzhou | -30 | -4 |
| Guangzhou | -30 | -4 |
| Wuhan | -40 | -6 |
| Tianjin | 0 | 0 |
| Chengdu | -30 | -4 |
| Wuxi | -20 | -3 |
| Lecong | -30 | -4 |
| Tangshan | -60 | -9 |
Change is on June 24th as compared to 17th June 2011
Change is per tonne
CR
1.0mm
Common
| Location | CNY | USD |
| Beijing | -30 | -4 |
| Changsha | -60 | -9 |
| Chengdu | 0 | 0 |
| Chongqing | -20 | -3 |
| Fuzhou | -50 | -7 |
| Guangzhou | -50 | -7 |
| Hangzhou | -100 | -15 |
| Harbin | -50 | -7 |
| Hefei | -100 | -15 |
| Jinan | -100 | -15 |
| Kunming | -50 | -7 |
| Lanzhou | 0 | 0 |
| Nanchang | -70 | -10 |
| Nanjing | -80 | -12 |
| Qingdao | -130 | -19 |
| Shanghai | -50 | -7 |
| Shenyang | -20 | -3 |
| Shijiazhuang | -50 | -7 |
| Taiyuan | 0 | 0 |
| Tianjin | -170 | -25 |
| Urumchi | -10 | -1 |
| Wuhan | -70 | -10 |
| Xian | -50 | -7 |
| Zhengzhou | -70 | -10 |
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