Chinese domestic steel market showed a token improvement for the last 3 day of Week 43 in a row bringing some streak of hope to the battered market.
There being nothing much to cheer about there was wafer thin margin between mills price and the spot prices leaving very little scope for correction.
The odds seem to be evenly poised for now. EU nations striking a deal to bail out Greece negativism is on the ebb. At the same time if domestic economy keeps stable (around 9% GDP), investment in commercial houses drops mildly, credit policy slightly adjusted, daily output no higher than 1.92million tonnes market might take off from this point.
Data from the China Iron & Steel Association showed that China average daily crude steel output dipped to 1.7998 million tonnes over the Oct 11-20 period, the first time it has fallen below 1.9 million tonnes since February. CISA originally said that daily output in the first 10 days of October reached 1.934 million tonnes, suggesting the country mills were still producing at very high rates despite the woes facing the sector. But according to the association latest data accumulated output over the first 20 days of October stood at 36.357 million tonnes, indicating that it has revised its output numbers for the first 10 days of the month to 1.836 million tonnes.
A growing number of Chinese steelmakers have begun overhauls at their facilities as they try to shield themselves from a steep decline in steel prices and a slowdown in sales, with Beijing's tightening moves continuing to weigh on demand.
On the flip side with continued volatility in global market, domestic monetary policy remaining tight and the iron ore prices declining sharply the downside risk remains prominent.
On the whole, during last week, the Chinese Long Product Price Index CLPPI continued in downward trends with 38 points whereas the Chinese Flat Products Index CFPPI has also declined by 18 points. The overall price index CHISPI declined by 27 points.
| Class | 21-Oct | 28-Oct | Change | % |
| CLPPI | 7774 | 7736 | -38 | -0.5% |
| CFPPI | 6938 | 6920 | -18 | -0.3% |
| CHISPI | 7300 | 7273 | -27 | -0.4% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category | 21-Oct | 28-Oct | Change | % |
| PI-WRC | 7806 | 7759 | -47 | -0.6% |
| PI-Rebar | 7735 | 7708 | -27 | -0.3% |
PI - Product Index
Flat Products
| Category | 21-Oct | 28-Oct | Change | % |
| PI-PLTS | 6293 | 6247 | -46 | -0.7% |
| PI-HR | 6996 | 7001 | 5 | 0.1% |
| PI-CR | 7173 | 7137 | -36 | -0.5% |
| PI-GP | 7202 | 7116 | -86 | -1.2% |
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 |
| Shanghai | -30 | -5 |
| Jiangsu | -50 | -8 |
| Shandong | 90 | 14 |
| Fujian | -330 | -52 |
| Guangdong | -100 | -16 |
| Henan | -80 | -13 |
| Hebei | 80 | 13 |
| Shanxi | 70 | 11 |
| Liaoning | 90 | 14 |
| Yunnan | -140 | -22 |
Change is on Oct 28th as compared to 21st Oct 2011
Change is per tonne
WRC
6.5mm
High Speed
| Location | CNY | USD |
| Shanghai | 0 | 0 |
| Hangzhou | 20 | 3 |
| Nanjing | -60 | -9 |
| Wuxi | -80 | -13 |
| Jinan | -20 | -3 |
| Hefei | -30 | -5 |
| Fuzhou | -100 | -16 |
| Nanchang | -50 | -8 |
| Guangzhou | 40 | 6 |
| Nanning | 130 | 20 |
| Changsha | -190 | -30 |
| Wuhan | -50 | -8 |
| Zhengzhou | -80 | -13 |
| Beijing | 0 | 0 |
| Tianjin | -30 | -5 |
| Baotou | 0 | 0 |
| Shijiazhuang | -50 | -8 |
| Taiyuan | -10 | -2 |
| Shenyang | -130 | -20 |
| Changchun | -140 | -22 |
| Harbin | -100 | -16 |
| Chongqing | 20 | 3 |
| Chengdu | 100 | 16 |
| Guiyang | 120 | 19 |
| Kunming | -100 | -16 |
| Xian | 20 | 3 |
| Lanzhou | 20 | 3 |
| Urumchi | 0 | 0 |
Change is on Oct 28th as compared to 21st Oct 2011
Change is per tonne
Rebars
20mm
HRB 400
| Location | CNY | USD |
| Shanghai | 0 | 0 |
| Hangzhou | 60 | 9 |
| Nanjing | -20 | -3 |
| Wuxi | -70 | -11 |
| Jinan | 0 | 0 |
| Hefei | -20 | -3 |
| Fuzhou | -30 | -5 |
| Nanchang | -50 | -8 |
| Guangzhou | 30 | 5 |
| Nanning | 110 | 17 |
| Changsha | -120 | -19 |
| Wuhan | -20 | -3 |
| Zhengzhou | -90 | -14 |
| Beijing | 50 | 8 |
| Tianjin | 0 | 0 |
| Baotou | 0 | 0 |
| Shijiazhuang | -30 | -5 |
| Taiyuan | -30 | -5 |
| Shenyang | -130 | -20 |
| Changchun | -140 | -22 |
| Harbin | -110 | -17 |
| Chongqing | 0 | 0 |
| Chengdu | 50 | 8 |
| Guiyang | -50 | -8 |
| Kunming | -110 | -17 |
| Xian | 130 | 20 |
| Lanzhou | 160 | 25 |
| Urumchi | 0 | 0 |
Change is on Oct 28th as compared to 21st Oct 2011
Change is per tonne
Angle
#5
| Location | CNY | USD |
| Shanghai | -30 | -5 |
| Hangzhou | -50 | -8 |
| Nanjing | -50 | -8 |
| Wuxi | -100 | -16 |
| Jinan | 0 | 0 |
| Hefei | 0 | 0 |
| Fuzhou | -50 | -8 |
| Nanchang | -50 | -8 |
| Guangzhou | -50 | -8 |
| Nanning | -50 | -8 |
| Changsha | -50 | -8 |
| Wuhan | -80 | -13 |
| Zhengzhou | -90 | -14 |
| Beijing | 0 | 0 |
| Tianjin | 0 | 0 |
| Baotou | -140 | -22 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Shenyang | -50 | -8 |
| Changchun | -40 | -6 |
| Harbin | 0 | 0 |
| Chongqing | -50 | -8 |
| Chengdu | -80 | -13 |
| Guiyang | -50 | -8 |
| Kunming | -50 | -8 |
| Xian | 0 | 0 |
| Lanzhou | 0 | 0 |
| Urumchi | -200 | -31 |
Change is on Oct 28th as compared to 21st Oct 2011
Change is per tonne
Channel
#16
| Location | CNY | USD |
| Shanghai | -60 | -9 |
| Hangzhou | -50 | -8 |
| Nanjing | -50 | -8 |
| Wuxi | -130 | -20 |
| Jinan | 0 | 0 |
| Hefei | 0 | 0 |
| Fuzhou | -50 | -8 |
| Nanchang | -50 | -8 |
| Guangzhou | -50 | -8 |
| Nanning | -50 | -8 |
| Changsha | -50 | -8 |
| Wuhan | -80 | -13 |
| Zhengzhou | -70 | -11 |
| Beijing | 0 | 0 |
| Tianjin | 0 | 0 |
| Baotou | -140 | -22 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Shenyang | -80 | -13 |
| Changchun | -70 | -11 |
| Harbin | 0 | 0 |
| Chongqing | -50 | -8 |
| Chengdu | -60 | -9 |
| Guiyang | -50 | -8 |
| Kunming | 0 | 0 |
| Xian | 0 | 0 |
| Lanzhou | -30 | -5 |
| Urumchi | -200 | -31 |
Change is on Oct 28th as compared to 21st Oct 2011
Change is per tonne
Beam
#25
| Location | CNY | USD |
| Shanghai | -110 | -17 |
| Hangzhou | -60 | -9 |
| Nanjing | -50 | -8 |
| Wuxi | -120 | -19 |
| Jinan | 0 | 0 |
| Hefei | 0 | 0 |
| Fuzhou | -100 | -16 |
| Nanchang | -50 | -8 |
| Guangzhou | -80 | -13 |
| Nanning | -50 | -8 |
| Changsha | -50 | -8 |
| Wuhan | -70 | -11 |
| Zhengzhou | -60 | -9 |
| Beijing | 0 | 0 |
| Tianjin | 0 | 0 |
| Baotou | -140 | -22 |
| Shijiazhuang | 0 | 0 |
| Taiyuan | 0 | 0 |
| Shenyang | -80 | -13 |
| Changchun | -70 | -11 |
| Harbin | 0 | 0 |
| Chongqing | -50 | -8 |
| Chengdu | -60 | -9 |
| Guiyang | -50 | -8 |
| Kunming | -20 | -3 |
| Xian | -80 | -13 |
| Lanzhou | -70 | -11 |
| Urumchi | -150 | -23 |
Change is on Oct 28th as compared to 21st Oct 2011
Change is per tonne
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