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Monday Market Monitor – China – WEEK 47 – In free fall

Each passing day steel prices hurtled down losing 1 %. Typical Chinese style of mercurial vacillation of price market lost patience after awaiting stimulus and credit easing by the new regime. Week long rituals of power handover led to heightened expectancy.

However with nothing new coming on way buyers opted for risk aversion during winter. Low demand during winter with over production by Chinese mills tilted sentiment.

China daily crude steel production amounts to 1.9567 million tonnes in early November, up by 1.61% compared with that in previous ten days. Daily crude steel production of key steelmakers hit 1.6377 million tonnes, up by 7.78%.

The reason for market correction is not far-fetched in view of the above.

The Chinese Long Product Price Index CLPPI has gone down by 103 points last week whereas the Chinese Flat Products Index CFPPI has also gone down by 59 points. The overall price index CHISPI declined by 78 points.

Class 16-Nov 23-Nov Change %
CLPPI 6619 6516 -103 -1.6%
CFPPI 6118 6059 -59 -1.0%
CHISPI 6335 6257 -78 -1.2%

CLPPI – Chinese Long Product Price Index
CFPPI – Chinese Flat Product Price Index
CHISPI – Chinese Steel Price Index

Long Products

Category 16-Nov 23-Nov Change %
PI-WRC 6493 6397 -96 -1.5%
PI-Rebar 6772 6661 -111 -1.6%

PI – Product Index

Flat Products

Category 16-Nov 23-Nov Change %
PI-PLTS 5351 5316 -35 -0.7%
PI-HR 6292 6203 -89 -1.4%
PI-CR 6154 6144 -10 -0.2%
PI-GP 6213 6217 4 0.1%

PI – Product Index

These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
http://steelprices-china.com/spi_services/spi.html

1. Long products

Billets
150*150
Q235

Location CNY USD
Shanghai -110 -17
Jiangsu -110 -17
Shandong -100 -16
Fujian -70 -11
Guangdong -70 -11
Henan -80 -13
Hebei -90 -14
Shanxi -80 -13
Liaoning -70 -11
Yunnan -80 -13

Change is on 23rd November as compared to 16th November 2012
Change is per tonne

WRC
6.5mm
High Speed

Location CNY USD
Shanghai -10 -2
Hangzhou -80 -13
Nanjing -140 -22
Wuxi -110 -17
Jinan -80 -13
Hefei -90 -14
Fuzhou -40 -6
Nanchang -140 -22
Guangzhou -30 -5
Nanning -70 -11
Changsha -120 -19
Wuhan -90 -14
Zhengzhou -50 -8
Beijing -50 -8
Tianjin -40 -6
Baotou 0 0
Shijiazhuang -90 -14
Taiyuan -80 -13
Shenyang 0 0
Changchun 0 0
Harbin 0 0
Chongqing -30 -5
Chengdu 0 0
Guiyang -70 -11
Kunming -30 -5
Xian 0 0
Lanzhou -50 -8
Urumchi -60 -9

Change is on 23rd November as compared to 16th November 2012
Change is per tonne

Rebars
20mm
HRB 400

Location CNY USD
Shanghai -110 -17
Hangzhou -120 -19
Nanjing -180 -28
Wuxi -100 -16
Jinan -100 -16
Hefei -100 -16
Fuzhou -100 -16
Nanchang -180 -28
Guangzhou -50 -8
Nanning -70 -11
Changsha -100 -16
Wuhan -100 -16
Zhengzhou -50 -8
Beijing 0 0
Tianjin -50 -8
Baotou 0 0
Shijiazhuang -80 -13
Taiyuan -70 -11
Shenyang 0 0
Changchun 0 0
Harbin 0 0
Chongqing 0 0
Chengdu 0 0
Guiyang -20 -3
Kunming 30 5
Xian -30 -5
Lanzhou -80 -13
Urumchi -80 -13

Change is on 23rd November as compared to 16th November 2012
Change is per tonne

Angle
#5

Location CNY USD
Shanghai -20 -3
Hangzhou 0 0
Nanjing 0 0
Wuxi 0 0
Jinan 0 0
Hefei 0 0
Fuzhou 0 0
Nanchang -50 -8
Guangzhou -50 -8
Nanning 0 0
Changsha -20 -3
Wuhan 0 0
Zhengzhou 0 0
Beijing -20 -3
Tianjin 0 0
Baotou -40 -6
Shijiazhuang 0 0
Taiyuan 0 0
Shenyang 0 0
Changchun 0 0
Harbin 0 0
Chongqing 0 0
Chengdu 0 0
Guiyang -50 -8
Kunming -30 -5
Xian 0 0
Lanzhou 0 0
Urumchi 0 0

Change is on 23rd November as compared to 16th November 2012
Change is per tonne

Channel
#16

Location CNY USD
Shanghai -20 -3
Hangzhou 0 0
Nanjing 0 0
Wuxi 0 0
Jinan -20 -3
Hefei 0 0
Fuzhou 0 0
Nanchang -50 -8
Guangzhou 20

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