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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