The steel prices exhibited weakness last week in China. The Chinese Long Product Price Index CLPPI dipped by 23 points whereas the Chinese Flat Products Index CFPPI stared reversal with drop of 21 points. The overall price index CHISPI slid by 22 points.
| Class | 04-Dec | 11-Dec | Change | % |
| CLPPI | 5970 | 5946 | -23 | -0.4% |
| CFPPI | 6113 | 6092 | -21 | -0.3% |
| CHISPI | 6051 | 6029 | -22 | -0.4% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category | 04-Dec | 11-Dec | Change | % |
| PI-WRC | 5192 | 5175 | -17 | -0.3% |
| PI-Rebar | 6911 | 6880 | -31 | -0.4% |
PI - Product Index
Flat Products
| Category | 04-Dec | 11-Dec | Change | % |
| PI-PLTS | 5288 | 5283 | -5 | -0.1% |
| PI-HR | 6031 | 5996 | -35 | -0.6% |
| PI-CR | 6910 | 6913 | 4 | 0.1% |
| PI-GP | 6510 | 6506 | -4 | -0.1% |
PI - Product Index
To know more about these indices please visit
http://steelprices-china.com/spi_services/spi.html
Chinese steel market, which saw no undulations or hotspot lately, is dominated by four factors, which are dragging down the market prices.
Firstly, effective market demand from end users is still weak and is insufficient to support higher steel prices. Feedback from sellers at the forefront of the market indicates that sales volumes would get worse in December. Non improvement of end user demand and the weak capital market is keeping most traders on the fence, making it quite difficult for market pries to rise.
Secondly, Chinese steel majors are announcements of major hikes in ex factory prices, especially for flat products, is preventing the pace of fall in steel prices.. Because of prices upward trend of raw material prices, electricity and transportation etc, steel mills have to raise EXW prices which would push the purchase cost higher creating no room for massive price cut.
Thirdly, inventory is still high and the imbalance between supply and demand can not be solved in short time. Although inventories of rebar and wire slightly decreased in Shanghai, total inventory is still high and because of sources from north gradually south the cycle of second De-inventory will be extended which will constraint the price rise.
Fourthly, with the coming end of the year, traders are short of funds relatively. There is possibility for some merchants to reduce price to withdraw money.
1. Long products - Correction continues
Billets
150*150
Q235
| Location | CNY | USD |
| Fujian Province | 0 | 0 |
| Hebei Province | -20 | -3 |
| Jiangsu Province | 0 | 0 |
| Shandong Province | -50 | -7 |
| Shanxi Province | -50 | -7 |
| Tianjin | 0 | 0 |
Change is on December 11th as compared to December 4th 2009
Change is per tonne
WRC
6.5mm
Common
| Location | CNY | USD |
| Changsha | 20 | 3 |
| Chengdu | -20 | -3 |
| Guiyang | 0 | 0 |
| Hangzhou | -50 | -7 |
| Kunming | -10 | -1 |
| Nanjing | -20 | -3 |
| Shanghai | -10 | -1 |
| Urumchi | 0 | 0 |
| Zhengzhou | 0 | 0 |
Change is on December 11th as compared to December 4th 2009
Change is per tonne
Rebars
20mm
HRB 400
| Location | CNY | USD |
| Beijing | -70 | -10 |
| Changsha | 0 | 0 |
| Chengdu | -20 | -3 |
| Chongqing | -10 | -1 |
| Fuzhou | -30 | -4 |
| Guangzhou | 10 | 1 |
| Guiyang | 0 | 0 |
| Hangzhou | 0 | 0 |
| Harbin | 0 | 0 |
| Hefei | -10 | -1 |
| Jinan | 50 | 7 |
| Kunming | -30 | -4 |
| Lanzhou | 0 | 0 |
| Nanchang | -20 | -3 |
| Nanjing | -60 | -9 |
| Shanghai | -40 | -6 |
| Shenyang | 0 | 0 |
| Shijiazhuang | -50 | -7 |
| Taiyuan | 0 | 0 |
| Tianjin | -50 | -7 |
| Urumchi | 0 | 0 |
| Wuhan | -50 | -7 |
| Xian | -30 | -4 |
| Zhengzhou | 0 | 0 |
Change is on December 11th as compared to December 4th 2009
Change is per tonne
2. Flats products - Reversal starts
HRC
4.75mm
Common
| Location | CNY | USD |
| Beijing | -30 | -4 |
| Changsha | 20 | 3 |
| Chengdu | 0 | 0 |
| Chongqing | -20 | -3 |
| Fuzhou | -100 | -15 |
| Guangzhou | 20 | 3 |
| Hangzhou | 0 | 0 |
| Harbin | 0 | 0 |
| Hefei | -90 | -13 |
| Jinan | -20 | -3 |
| Kunming | 0 | 0 |
| Lanzhou | -20 | -3 |
| Nanchang | -20 | -3 |
| Nanjing | -20 | -3 |
| Shanghai | -20 | -3 |
| Shenyang | 0 | 0 |
| Shijiazhuang | -30 | -4 |
| Taiyuan | 70 | 10 |
| Tianjin | -40 | -6 |
| Urumchi | 0 | 0 |
| Wuhan | -10 | -1 |
| Xian | 0 | 0 |
| Zhengzhou | -20 | -3 |
Change is on December 11th as compared to December 4th 2009
Change is per tonne
Plates
20mm
Common
| Location | CNY | USD |
| Beijing | -10 | -1 |
| Changsha | 0 | 0 |
| Chengdu | 0 | 0 |
| Chongqing | 0 | 0 |
| Fuzhou | 0 | 0 |
| Guangzhou | 0 | 0 |
| Hangzhou | 10 | 1 |
| Harbin | -30 | -4 |
| Hefei | 0 | 0 |
| Jinan | 0 | 0 |
| Kunming | 0 | 0 |
| Lanzhou | 0 | 0 |
| Nanchang | 0 | 0 |
| Nanjing | -20 | -3 |
| Shanghai | -20 | -3 |
| Shenyang | 20 | 3 |
| Taiyuan | 0 | 0 |
| Tianjin | 0 | 0 |
| Urumchi | 0 | 0 |
| Wuhan | -20 | -3 |
| Xian | 30 | 4 |
| Zhengzhou | -20 | -3 |
Change is on December 11th as compared to December 4th 2009
Change is per tonne
CR
1.0mm
Common
| Location | CNY | USD |
| Beijing | 0 | 0 |
| Changsha | 0 | 0 |
| Chengdu | 0 | 0 |
| Chongqing | 0 | 0 |
| Fuzhou | 0 | 0 |
| Guangzhou | 0 | 0 |
| Hangzhou | 40 | 6 |
| Harbin | 0 | 0 |
| Hefei | 0 | 0 |
| Jinan | 0 | 0 |
| Kunming | 0 | 0 |
| Lanzhou | -50 | -7 |
| Nanchang | 0 | 0 |
| Nanjing | 0 | 0 |
| Qingdao | 0 | 0 |
| Shanghai | 50 | 7 |
| Shenyang | 0 | 0 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Tianjin | -50 | -7 |
| Urumchi | 0 | 0 |
| Wuhan | 80 | 12 |
| Xian | 0 | 0 |
| Zhengzhou | 0 | 0 |
Change is on December 11th as compared to December 4th 2009
Change is per tonne
HDG
0.5mm
Common
| Location | CNY | USD |
| Beijing | -100 | -15 |
| Boxing | -40 | -6 |
| Chongqing | 0 | 0 |
| Fuzhou | 0 | 0 |
| Guangzhou | 0 | 0 |
| Hangzhou | 20 | 3 |
| Harbin | -30 | -4 |
| Nanchang | 50 | 7 |
| Shanghai | 0 | 0 |
| Shenyang | 0 | 0 |
| Tianjin | -100 | -15 |
| Wuhan | 0 | 0 |
| Xian | 0 | 0 |
| Zhengzhou | 0 | 0 |
Change is on December 11th as compared to December 4th 2009
Change is per tonne
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