Steel Billet Market Report Sep 2013
2013-10-11 12:04:44 【Print】
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Though September is the traditional sales peak season, steel prices declined in September as steel and steel billet prices have reached the top point in August. In addition, steel billet prices also struggled and declined by RMB100-150/t in September
. Main reasons for the continuous decline of steel billet prices and the sluggish market in September are as follows . Firstly, steel billet inventory increased compared with that of August and dealing activity worsened, so steel mills were under greater sales pressures . Secondly, the expected peak season of “Gold September, Silver October” in steel market did not realize . Demand became weaker and problems carried by the excessive purchases in the former period began appear . Thirdly, mainstream large steel mills started to reduce the ex-works prices of finished steel .