Strip Market Report May 2013

Prices of HR strip witnessed a slightly downward trend in the first half of the month, and they went down sharply at the end of the month especially after the government announced there was no positive news for the steel market.Asian Metal Copyright Participants were pessimistic towards the coming market and they cut quotations sharply to boost sales.Asian Metal Copyright As the side-effect of the RMB4 trillion investments appeared in succession, the new leadership is unlikely to issue more stimulant polices within this year.Asian Metal Copyright Prices of raw materials such as iron ore and steel billet kept decreasing, and the demand from downstream customers was soft.Asian Metal Copyright Participants were pessimistic towards the coming market and they cut quotations sharply to boost sales.Asian Metal Copyright Chinese daily crude steel output rose further in early May, which means the oversupply pressure was hard to reduce in the short term.Asian Metal Copyright Chinese daily crude steel output rose further in early May, which means the oversupply pressure was hard to reduce in the short term.Asian Metal Copyright Under such a condition, insiders deem that the price of HR strip is likely to go down further next month, but the markdown will be narrow.Asian Metal Copyright Prices of raw materials such as iron ore and steel billet kept decreasing, and the demand from downstream customers was soft.Asian Metal CopyrightPrices of HR strip witnessed a slightly downward trend in the first half of the month, and they went down sharply at the end of the month especially after the government announced there was no positive news for the steel market.Asian Metal Copyright In addition, the global economic environment is unsatisfying at the moment.Asian Metal Copyright Prices of raw materials such as iron ore and steel billet kept decreasing, and the demand from downstream customers was soft.Asian Metal Copyright Under such a condition, insiders deem that the price of HR strip is likely to go down further next month, but the markdown will be narrow.
.Asian Metal Copyright In addition, the global economic environment is unsatisfying at the momentAsian Metal Copyright