CISA foresees a mild fluctuation of steel price in following days
2010-08-20 09:20:05 【Print】
BEIJING (Asian Metal) 20 Aug 10 – China Iron & Steel Association predicts that steel price is hard to move up sharply in the upcoming market in consideration of the serious conflict between the demand and oversupply. CISA foresees a mild fluctuation in following days.
Supported by stable and continuous economic policies, the economy of China will process on a healthy and excellent trend. Therefore, the demand of steel products is expected to continue increasing.
CISA expresses that export rebate about HRC, steel plate and large-sized section steel was canceled on 15 July, which took up 45% of the total export of steel products. The export amount will be restrained to certain extent, and at the same time the pressure of balancing the demand and supply is going to increase sharply without doubt.
Fortunately, the policy of recombining and abrogating backward production is favorable to relieve the conflict of demand and oversupply.
According to data from CISA, up to late this July, the inventory of five major steel products in 26 cities had amounted to 14.54 million tons, with a month-on-month decrease of 780,000 tons and a markdown of 4.95%. Nevertheless, it still runs at the high level for the time being.
For steel varieties, the stock of long products reduced obviously, and among the total amount those of rebar steel and wire rod witnessed month-on-month decreases of 9.32% and 14.98% respectively. The inventory of steel plate went down by 6.71%. However, those for HRC and CRC increased by 14.39% and 1.58% respectively.
Supported by stable and continuous economic policies, the economy of China will process on a healthy and excellent trend. Therefore, the demand of steel products is expected to continue increasing.
CISA expresses that export rebate about HRC, steel plate and large-sized section steel was canceled on 15 July, which took up 45% of the total export of steel products. The export amount will be restrained to certain extent, and at the same time the pressure of balancing the demand and supply is going to increase sharply without doubt.
Fortunately, the policy of recombining and abrogating backward production is favorable to relieve the conflict of demand and oversupply.
According to data from CISA, up to late this July, the inventory of five major steel products in 26 cities had amounted to 14.54 million tons, with a month-on-month decrease of 780,000 tons and a markdown of 4.95%. Nevertheless, it still runs at the high level for the time being.
For steel varieties, the stock of long products reduced obviously, and among the total amount those of rebar steel and wire rod witnessed month-on-month decreases of 9.32% and 14.98% respectively. The inventory of steel plate went down by 6.71%. However, those for HRC and CRC increased by 14.39% and 1.58% respectively.
