Chinese steel giant and price benchmark setter for SEA, Baoshan Iron & Steel announced that it will raise its main steel product prices for March, it said on Friday.
As per report BaoSteel will raise hot rolled coil price and cold rolled coil by CNY 150 per tonne (USD24), after the company kept prices flat for February.
Analysts expect a seasonal pick-up in steel demand to encourage steel mills in the world's largest steel producer to lift prices, but uncertainties in the marco economy could stifle hopes of any big price spike in the domestic market.
Unit Converters:
Price Index
10-Feb
09-Feb
03-Feb
WoW
WoW
10-Jan
MoM
MoM
10-Feb
YoY
YoY
ILPPI
9052
9058
9061
9079
7986
IFPPI
8909
8909
8916
8836
9103
INDSPI
8984
8987
8992
8963
8518
08-Feb
07-Feb
02-Feb
WoW
WoW
09-Jan
MoM
MoM
09-Feb
YoY
YoY
CLPPI
7526
7548
7582
7626
7543
CFPPI
6711
6716
6709
6720
7648
CHISPI
7064
7076
7087
7112
7602
19-Jan
12-Jan
05-Jan
WoW
WoW
15-Dec
MoM
MoM
13-Jan
YoY
YoY
MLPPI
5065
5065
5065
4999
5096
MFPPI
5994
5994
5994
6016
6192
MEASPI
5346
5346
5346
5307
5428
Live Tenders
Metal Rate
09 Feb, 2012
Zn
2107
Ni
21345
Sn
25155
Al
2232
Cu
8520
Source: LME.co.uk
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Weekly Poll
Metal Buildings and Steel Structures Expo 2012 (12 Apr, 2012 - 14 Apr, 2012)
Guangzhou International Metal and Metallurgy Exhibition (19 Jun, 2012 - 21 Jun, 2012)
Baltic Dry Index
10 Feb, 2012
BDI
715
BCI
1457
BPI
967
BSI
645
Source: DryShips.com
Currency Rate
11 Feb, 2012
USD
1.0000
AUD
0.9377
BRL
1.7223
CAD
1.0018
CNY
6.2943
EUR
0.7579
GBP
0.6348
INR
49.4750
JPY
77.6550
RUB
30.0675
ZAR
7.7514
Source: http://www.xe.com
