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SteelHome Monthly Report
SteelHome, May 2012
Market price, industry dynamics, enterprises dynamics, ex-factory price, domestic statistics, market analysis for HRC/CRC, medium plate, construction steel, stainless steel, iron ore, coke, scrap, ferroalloy during the month, and prediction for next month.
The report is published on the first day of every month.
Monthly Report on China Construction Steel Market for May, 2010
Under the impact of profit-taking, hard austerity policies and volatile global financial market, China construction steel market headed south in May while wire rod and rebar price even fell down below CNY4000 per tonne in some markets.
As the nation launches stricter controls on property market and the government strengthens regulation on risks in local-government financing, China construction steel market will be in face of weakening demand in the short term.
At the same time, countries all over the world are cautious about making stimulus exit plan and China seems to slow down the pace of macrocontrol as the foundation of global economic recovery is not solid yet and impacts from European sovereign debt crisis remain uncertain. It will be favorable to help stabilize market sentiments. Moreover, the national further intensifies energy saving and emission reduction while raise power surcharges for high energy consumption industries. 30 million tonnes of iron-making capacity and 8.25 million tonnes of steel-making capacity will be phased out before the third quarter. The moves will restrain the growth of construction steel production to some extent while help bolster production cost up. It is expected that China construction steel market will fluctuate amid inventory digestion while wire rod and rebar price might edge slightly higher in some key cities.
Monthly Report on China Stainless Steel Market for May, 2010
China stainless steel market fluctuated downward in May 2010. Prices of 304 CR/HR stainless steel dropped more than 10 percent compared with that of late April, and that of 201 and 430 stainless steel went down about 8 percent month on month. Nickel price plunge made grate contribution to this round of stainless steel price fall; however, high inventory level as well as bleak transaction to some degree accelerated the market.
Sticker price of 304 stainless steel from Taiyuan Steel was cut by CNY 1,000 per tonne, after that, price of 304 CR stainless coil stood at CNY 24,500 per tonne. Ex-works price of steel mills appeared much higher than the real dealing one in the market, steel makers showed they will offer about CNY 2,500 per tonne subsidy for their distributors. Due to complex international economic environment, fundamental of nickel market seemed pessimistic, it is predicted that international nickel price will keep fluctuating in June.
According to analysis on current market, it is forecasted that 300 series stainless steel will continue vibrating in June, that of 430 is likely to fluctuate downward, and that of 201 will swing by that of 300 series, however, the degree is limited.
Monthly Report on China Iron Ore Market for May 2010
China iron ore price went down by CNY 50-200 per tonne entirely in May 2010. Dampened by overall steel price plunge, small-and-medium steel mills were on the edge of loss and cut down iron concentrates purchasing to some degree, as for leading steel mills, due to sufficient inventory as well as the consideration of reducing procurement cost, they whittled iron concentrates purchasing price substantially.
As a result of shrinking purchasing from China purchasers, iron ore import price slumped sharply this month, as of end May, the actual dealing price of Fe content of 63.5 percent Indian fines dipped a total of US$ 37 to US$ 147-150 per tonne (CIF).
Domestic dressing plants appeared hesitated in delivering after significant iron ore price drop. As long as no risk of seeing the expansion of steel production cut, the demand for iron concentrate in the future will maintain at high level.
Due to reducing imports from India as well as high expectation on iron ore price growth in Q3, it's hard to see iron ore price to fall, it is predicted that iron ore price in June will continue to rise after a slight fluctuation.
Monthly Report on China Scrap Market for May 2010
Falling steel price clouded China's scrap market in May, with the price drop of CNY 100-200 per tonne. Part medium-and-small-sized steelmakers suspended the scrap bookings, and market transaction turned insipid. International scrap price also suffered price drop, but the whole level remained high. Growth rate of China's scrap imports slowed down.
China's scrap spot resources will keep tight in June as a result of busy farming season and sellers' holding resources on hand. On the rally of steel price, part steel mills will replenish scrap stocks in June, thus, scrap price in China will inch upward.
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