After a tepid opening on 9th February, the Chinese domestic steel market gradually came to terms and exhibited modulated resurgence on 10th and 11th.

The 25 basis points hike in deposit and lending rates on the eve of New Year opening certainly sent the Chinese commodity market in huddle with muted response. However indications of turnaround were writ large with prices of both longs and flats gaining before week closure.

Spring time, typically being a period of inventory build up, restocking will certainly pick up in anticipation of real demand as the summer sets in.

The ubiquitous strong iron ore and coke prices will give the thrust. The steel production in China is expected to increase further in 2011 which will certainly propel stocking of raw material by steel makers furthering the spike in iron ore prices.

The Chinese Long Product Price Index CLPPI continued in upward trends with 85 points last week whereas the Chinese Flat Products Index CFPPI also went up by 119 points. The overall price index CHISPI inclined by 104 points.

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

Long Products

PI - Product Index

Flat Products

PI - Product Index

To know more about these indices please visit
http://steelprices-china.com/spi_services/spi.html

It is expected that the market will resurrect soon as the core fundamentals of seasonal demand and high input cost despite the rate hike announced by the government.

1. Long products

Billets
150*150
Q235

Change is on Feb 11th as compared to 31st Jan 2011
Change is per tonne

WRC
6.5mm
Common

Change is on Feb 11th as compared to 31st Jan 2011
Change is per tonne

Rebars
20mm
HRB 400

Change is on Feb 11th as compared to 31st Jan 2011
Change is per tonne

Angle
#5

Change is on Feb 11th as compared to 31st Jan 2011
Change is per tonne

Channel
#16

Change is on Feb 11th as compared to 31st Jan 2011
Change is per tonne

Beam
#25

Change is on Feb 11th as compared to 31st Jan 2011
Change is per tonne

www.steelprices-china.com is a comprehensive service for tracking real time domestic steel prices and trends in China on daily basis.

The scope of service includes
1. Domestic pricing information in China
2. Export levels from Turkey, Rotterdam, China, India and Black Sea

The service is specifically designed to assist steel makers, traders, users and others connected with the industry to keep track of real time prices prevailing in the market and thus comprehensively evaluate steel pricing trends in the trend setting region

Methodology and access
1. Benchmark products in each category with fixed commonly used sizes and grades
2. Average transaction levels which have settled well, based on continuous interactions with domestic mills and traders
4. On fixed market oriented payment terms
5. Daily updates
6. Data available since July 2008
5. Access through web site

Products covered
1. Input materials and semis
2. Long Products
3. Flat Products
5. FOB levels for export FOB Black Sea, China, Turkey and India

Other features

The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available.

In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data.

Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news.

Subscription charges for 12 months period

How to subscribe
1. Register at www.steelprices-china.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-china.com.

(Sourced from www.steelprices-china.com)