Iron market report Oct 2012
2012-11-12 09:35:01 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
The price of steel billet bulleted up during the National Holiday, and prices of iron ore fines, coke and finished steel followed to rise after the holiday, so the iron market performed well in the first week after the holiday when steel mills replenished inventory. In the second week after the holiday, prices kept rising in some regions with satisfying deals due to tight supply. Prices of raw material leveled off in late October when markets of finished steel and steel billet fluctuated, and the iron market remained stable, lacking driven force. On cast iron and S.G. cast iron, the markets saw little-to-no activity during the National Holiday with growing stocks, and the prices went down after the holiday due to soft demand. However, with cost on raw material keeping rising, the iron price followed to rise. The iron market trended sideways narrowly in late October with the on-game between demand and cost. Overall, the appreciation accumulated to RMB50-150/t for pig iron, RMB50/t for cast iron, and RMB30-150/t for S.G. cast iron in October.
