CRC Market Report Apr 2011
2011-05-28 17:54:30 【Print】
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The CRC market continued the slow trend during the month, with limited demand from downstream industries and participants’ cautious attitude, though the price went up slightly driven by the firm cost of raw materials. Sources predict that the calm situation will go on in the coming week.
1. Financial News
Central Bank of China claimed to move up RMB benchmark interest rates by 0.25 percentage point from 6th April.
On 7th of the month, China prices of petrol and diesel were lifted by RMB500/t and RMB400/t respectively to RMB8,580/t and RMB7,730/t.
China domestic GDP was estimated to increase by 9.7%, up by 2.1% compared with that in the past quarter.
Central Bank of China claimed to raise RMB deposit reserve rate by 0.5 percentage point on 21th of the month.
China State Grid released the electricity supply report and showed that the electricity consumption reached 1,091.1 billion KWH in Quarter 1, up by 12.7% year-on-year. High energy-consuming industries including steel broke record high level. It is predicted that the supply shortage will get to 30 million KWH this year.
1. Financial News
Central Bank of China claimed to move up RMB benchmark interest rates by 0.25 percentage point from 6th April.
On 7th of the month, China prices of petrol and diesel were lifted by RMB500/t and RMB400/t respectively to RMB8,580/t and RMB7,730/t.
China domestic GDP was estimated to increase by 9.7%, up by 2.1% compared with that in the past quarter.
Central Bank of China claimed to raise RMB deposit reserve rate by 0.5 percentage point on 21th of the month.
China State Grid released the electricity supply report and showed that the electricity consumption reached 1,091.1 billion KWH in Quarter 1, up by 12.7% year-on-year. High energy-consuming industries including steel broke record high level. It is predicted that the supply shortage will get to 30 million KWH this year.
