Domestic prices in China improve slowly but steadily
Tranquility prevails in the Chinese waters for the past 1 week. The mysterious solitude has bemused experts since it unusually long. Steel market in China has all through been a happening place. Turnaround in the prices has been avidly anticipated for the past fortnight. The market has been ambivalent with a proclivity for improvement.
After a near washout in Q2 as the demand from all key sectors slackened as the game of up man ship accentuated between the PBOC and market. Most of the planned expenditure on infrastructure and housing was kept in abeyance as the market grappled with runaway inflation and its surgical malady. Astonishingly mills have been on rampaging production touching almost 2 million tonne per day in June exuding a mysterious confidence. Remarkably the stock at all major locations for flat and long products has been maintained within manageable limits all through possibly an outcome of urbanization chugging along.
Nonetheless the major projects viz., 10 million budget housing and infrastructure development are yet take off in full swing. At the same time input cost has been obdurate decimating bottom lines of the mills compelling them to yearn for increasing mark ups. Silhouetted in the background of despondency the moment seems ripe for backlash whipping up buying in H2 to accomplish unfulfilled plan targets.
The market footprints have been guarded gradually creeping as the monsoon abates. Concurrently the global market is portending to unfold buying from the famished quarters of MENA and EU countries after the holidays.
Rebar
| Location | CNY |
| Shanghai | 10 |
| Hangzhou | 20 |
| Nanjing | 40 |
| Jinan | 10 |
| Hefei | 20 |
| Fuzhou | 10 |
| Nanchang | 30 |
| Guangzhou | 10 |
| Changsha | 50 |
| Wuhan | 20 |
| Zhengzhou | 20 |
| Beijing | -20 |
| Tianjin | 0 |
| Shijiazhuang | -20 |
| Taiyuan | -20 |
| Shenyang | 10 |
| Harbin | 20 |
| Chongqing | 10 |
| Chengdu | 40 |
| Guiyang | -10 |
| Kunming | 30 |
| Xian | 50 |
| Lanzhou | 0 |
| Urumchi | -50 |
Change is on July 27th as compared to 20th July 2011
In CNY per tonne
HRC
| Location | CNY |
| Shanghai | -30 |
| Hangzhou | 20 |
| Nanjing | 20 |
| Jinan | 20 |
| Hefei | 0 |
| Fuzhou | 0 |
| Nanchang | 0 |
| Guangzhou | 20 |
| Changsha | -20 |
| Wuhan | 0 |
| Zhengzhou | 0 |
| Beijing | -10 |
| Tianjin | -10 |
| Shijiazhuang | 0 |
| Taiyuan | 10 |
| Shenyang | 0 |
| Harbin | 0 |
| Chongqing | 30 |
| Chengdu | 40 |
| Kunming | 0 |
| Xian | 20 |
| Lanzhou | -10 |
| Urumchi | 70 |
Change is on July 27th as compared to 20th July 2011
In CNY per tonne
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