Unexpectedly the domestic steel rebar prices in China showed first signs of cracks with correction across the regions. Although the magnitude was not alarming and uniform to give distress call but certainly it sent a chill down the spine.
One cannot be oblivious to the turmoil in the global economy which is sitting on the brink of double dip recession under the longing shadow of US downgrading and EU debt crisis. The emerging economies have taken the double whammy of depleting export prospects along with a runaway inflation in the domestic market compelling them to progressively enhance the lending rates thereby crippling buying.
Market dilemma is expected to last for a while. At the beginning of August buying did sputter but subsequently declined as exports plummeted. Concurrently the domestic market is yet to pick up as the buyers tend to be cautious after the continuous steel price adjustment and high capital cost.
However all is not lost to write off a revival as the steel majors viz., Bao Steel and WISCO raised ex-factory prices for September based on demand growth projections during September and October. The approaching National Holidays along with buoyancy in raw material prices will certainly give the thrust in short term.
The Chinese Long Product Price Index CLPPI has gone down by 31 points last week whereas the Chinese Flat Products Index CFPPI has gone up by 3 points. The overall price index CHISPI declined by 12 points.
| Class | 19-Aug | 26-Aug | Change | % |
| CLPPI | 7735 | 7704 | -31 | -0.4% |
| CFPPI | 7646 | 7649 | 3 | 0.0% |
| CHISPI | 7685 | 7673 | -12 | -0.2% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category | 19-Aug | 26-Aug | Change | % |
| PI-WRC | 6504 | 6489 | -15 | -0.2% |
| PI-Rebar | 9225 | 9175 | -50 | -0.5% |
PI - Product Index
Flat Products
| Category | 19-Aug | 26-Aug | Change | % |
| PI-PLTS | 6938 | 6939 | 1 | 0.0% |
| PI-HR | 7921 | 7922 | 1 | 0.0% |
| PI-CR | 7389 | 7407 | 18 | 0.2% |
| PI-GP | 7550 | 7545 | -5 | -0.1% |
PI - Product Index
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 |
| Fujian Province | 0 | 0 |
| Hebei Province | -10 | -2 |
| Jiangsu Province | 0 | 0 |
| Shandong Province | 0 | 0 |
| Shanxi Province | -10 | -2 |
| Tianjin | 0 | 0 |
Change is on Aug 26th as compared to 19th Aug 2011
Change is per tonne
WRC
6.5mm
Common
| Location | CNY | USD |
| Changsha | 0 | 0 |
| Chengdu | 0 | 0 |
| Guiyang | -70 | -11 |
| Hangzhou | 40 | 6 |
| Kunming | 80 | 12 |
| Nanjing | -10 | -2 |
| Shanghai | -30 | -5 |
| Urumchi | -50 | -8 |
| Zhengzhou | 0 | 0 |
Change is on Aug 26th as compared to 19th Aug 2011
Change is per tonne
Rebars
20mm
HRB 400
| Location | CNY | USD |
| Beijing | -10 | -2 |
| Changsha | -40 | -6 |
| Chengdu | -50 | -8 |
| Chongqing | -20 | -3 |
| Fuzhou | -20 | -3 |
| Guangzhou | 0 | 0 |
| Guiyang | -50 | -8 |
| Hangzhou | -30 | -5 |
| Harbin | -10 | -2 |
| Hefei | -40 | -6 |
| Jinan | -70 | -11 |
| Kunming | 0 | 0 |
| Lanzhou | 0 | 0 |
| Nanchang | -40 | -6 |
| Nanjing | -50 | -8 |
| Shanghai | -30 | -5 |
| Shenyang | -40 | -6 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Tianjin | -20 | -3 |
| Urumchi | -50 | -8 |
| Wuhan | -40 | -6 |
| Xian | -40 | -6 |
| Zhengzhou | -20 | -3 |
Change is on Aug 26th as compared to 19th Aug 2011
Change is per tonne
Angle
#5
| Location | CNY | USD |
| Shanghai | -20 | -3 |
| Hangzhou | 30 | 5 |
| Nanjing | -20 | -3 |
| Jinan | 0 | 0 |
| Hefei | 0 | 0 |
| Fuzhou | 0 | 0 |
| Nanchang | 60 | 9 |
| Guangzhou | 0 | 0 |
| Changsha | 0 | 0 |
| Wuhan | 20 | 3 |
| Zhengzhou | 90 | 14 |
| Beijing | 0 | 0 |
| Tianjin | 0 | 0 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Shenyang | 0 | 0 |
| Harbin | 0 | 0 |
| Chongqing | 0 | 0 |
| Chengdu | 0 | 0 |
| Kunming | 30 | 5 |
| Xian | 40 | 6 |
| Lanzhou | 0 | 0 |
| Urumchi | 0 | 0 |
Change is on Aug 26th as compared to 19th Aug 2011
Change is per tonne
Channel
#16
| Location | CNY | USD |
| Shanghai | -10 | -2 |
| Hangzhou | 0 | 0 |
| Nanjing | -10 | -2 |
| Jinan | 30 | 5 |
| Hefei | 0 | 0 |
| Fuzhou | 0 | 0 |
| Nanchang | 60 | 9 |
| Guangzhou | 0 | 0 |
| Changsha | 0 | 0 |
| Wuhan | 0 | 0 |
| Zhengzhou | 0 | 0 |
| Beijing | 0 | 0 |
| Tianjin | 0 | 0 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Shenyang | 0 | 0 |
| Harbin | 0 | 0 |
| Chongqing | 0 | 0 |
| Chengdu | 0 | 0 |
| Kunming | 0 | 0 |
| Xian | 0 | 0 |
| Lanzhou | 0 | 0 |
| Urumchi | 0 | 0 |
Change is on Aug 26th as compared to 19th Aug 2011
Change is per tonne
Beam
#25
| Location | CNY | USD |
| Shanghai | 0 | 0 |
| Hangzhou | 0 | 0 |
| Nanjing | 0 | 0 |
| Jinan | 0 | 0 |
| Hefei | 0 | 0 |
| Fuzhou | 0 | 0 |
| Nanchang | 60 | 9 |
| Guangzhou | 0 | 0 |
| Changsha | 0 | 0 |
| Wuhan | 0 | 0 |
| Zhengzhou | 0 | 0 |
| Beijing | 0 | 0 |
| Tianjin | 0 | 0 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Shenyang | 0 | 0 |
| Harbin | 0 | 0 |
| Chongqing | 0 | 0 |
| Chengdu | -20 | -3 |
| Kunming | 0 | 0 |
| Xian | 0 | 0 |
| Lanzhou | 0 | 0 |
| Urumchi | 0 | 0 |
Change is on Aug 26th as compared to 19th Aug 2011
Change is per tonne
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