The Chinese steel market had an endearing week 44 with distinct price improvements in long and flat products. Across all regions the prices showed affirmative movements. The rebar prices improved by up to 4% whereas HRC prices improved by up to 2%.
The price movements although not unexpected there was uncertainty about its timings given the week tidings in market. The entire autumn proved to be a washout despite prophecies of revival as extraneous factors played the dampener.
Off late a renewed vigor in capacity elimination and spike in iron ore prices recently has set a positive momentum in the market
Rebar
20mm
HRB 400
| Location | Change % |
| Shanghai | 1.6% |
| Hangzhou | 1.8% |
| Nanjing | 2.8% |
| Jinan | 2.6% |
| Hefei | 2.1% |
| Fuzhou | 3.1% |
| Nanchang | 1.4% |
| Guangzhou | 2.2% |
| Changsha | 1.7% |
| Wuhan | 1.9% |
| Zhengzhou | 2.4% |
| Beijing | 2.9% |
| Tianjin | 3.6% |
| Shijiazhuang | 2.9% |
| Taiyuan | 2.2% |
| Shenyang | 1.3% |
| Harbin | 1.6% |
| Chongqing | 0.7% |
| Chengdu | 1.7% |
| Guiyang | 1.9% |
| Kunming | 2.4% |
| Xian | 2.0% |
| Lanzhou | 1.6% |
| Urumchi | 0.0% |
Change is on 4th November as compared to 29th October 2010
By weekend 20mm HRB 335 rebar averaged CNY 4370 per tonne in the major domestic markets, up CNY 89 per tonne WoW and 400 rebar averaged CNY 4533 per tonne in the major domestic markets, up CNY 84 per tonne WoW.
HRC
4.75mm
Common
| Location | % |
| Shanghai | 0.7% |
| Hangzhou | 0.9% |
| Nanjing | 0.6% |
| Jinan | 1.6% |
| Hefei | 1.1% |
| Fuzhou | 1.1% |
| Nanchang | 0.0% |
| Guangzhou | 1.9% |
| Changsha | 1.5% |
| Zhengzhou | 1.6% |
| Beijing | 0.5% |
| Tianjin | 1.6% |
| Shijiazhuang | 0.0% |
| Taiyuan | 1.6% |
| Shenyang | 0.3% |
| Harbin | 0.7% |
| Chongqing | 1.1% |
| Chengdu | 1.2% |
| Kunming | 1.1% |
| Xian | 1.2% |
| Lanzhou | 0.5% |
| Urumchi | 0.0% |
Change is on 4th November as compared to 29th October 2010
Likewise 3.0mm HR coil in the major domestic cities averaged CNY 4434 per tonne, up CNY 30 per tonne week on week, 4.75mm HR coil was CNY 4348 per tonne, up CNY 34 per tonne.
HRC prices nosed up with slight fluctuations. There were more transactions conducted among traders. There were also more purchasing activities from end users, supportive of the market. CRC prices were pushed up by rising HRC prices.
However, most traders believe that large price rises are unlikely due to the high inventories. Main steel mills are very cautious in releasing new price policies.
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