Steel Billet Market Report Nov 2013
2013-12-03 17:51:43 【Print】
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Domestic steel billet market consolidated and prices fluctuated at about RMB30/t in November
. Reason were as follows . Firstly, without motives for increasing, steel prices were unlikely to decline either, supported by raw material production costs . Consequently, steel prices consolidated, influencing steel billet rates . Secondly, with tight liquidity capital, steel rolling enterprises and traders were cautious about purchasing and slowed winter stockpiling down . Thirdly, environmental protection investigation and the phasing out of backward capacities did not lead to the reduction of production capacity, so supply for steel billet was still enough . Fourthly, participants took an cautious sentiment . Insiders were cautious about operating as no favorable factors for metallurgical industry were put forward after the “third session of the 18th CPC Congress” in mid this month .