During the bloodbath operators in steel market took recourse to rear guard measures. While mills rescheduled maintenance with an objective to prune production, the traders and stockiest went on liquidation spree to minimize cost. Buying became precarious.
Improvement in PMI to 51.4 (HSBC Markit) over the last 2 months has enlivened the lackluster milieu. It is expected that government might tweak the credit policy mildly to enthuse the small scale enterprises which provide nearly 75% employments.
But with inflation levels remaining much above the targets at 6.6 % CPI and there won’t be any radical change in the monetary policy which is expected to remain unchanged. The GDP still at an impressive 9.1% in September despite the pitfalls the state is not in quandary to avoid any hard landing.
During the last week rebar prices have shown improvement with falling inventory. It seems likely that the mild improvement in prices will sputter out soon without élan.
The Chinese Long Product Price Index CLPPI continued in upward trends with 58 points last week whereas the Chinese Flat Products Index CFPPI has also declined by 38 points. The overall price index CHISPI declined by 4 points.
| Class | 28-Oct | 04-Nov | Change | % |
| CLPPI | 7736 | 7794 | 58 | 0.7% |
| CFPPI | 6920 | 6882 | -38 | -0.5% |
| CHISPI | 7273 | 7277 | 4 | 0.1% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category | 28-Oct | 04-Nov | Change | % |
| PI-WRC | 7759 | 7839 | 80 | 1.0% |
| PI-Rebar | 7708 | 7740 | 32 | 0.4% |
PI - Product Index
Flat Products
| Category | 28-Oct | 04-Nov | Change | % |
| PI-PLTS | 6247 | 6186 | -61 | -1.0% |
| PI-HR | 7001 | 6973 | -28 | -0.4% |
| PI-CR | 7137 | 7114 | -23 | -0.3% |
| PI-GP | 7116 | 7023 | -93 | -1.3% |
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 | 40 | 6 |
| Jiangsu | 30 | 5 |
| Shandong | 30 | 5 |
| Fujian | 120 | 19 |
| Guangdong | 50 | 8 |
| Henan | 20 | 3 |
| Hebei | 10 | 2 |
| Shanxi | 50 | 8 |
| Liaoning | 50 | 8 |
| Yunnan | 90 | 14 |
Change is on Nov 4th as compared to 28th Oct 2011
Change is per tonne
WRC
6.5mm
High Speed
| Location | CNY | USD |
| Shanghai | -20 | -3 |
| Hangzhou | 30 | 5 |
| Nanjing | -90 | -14 |
| Wuxi | -60 | -9 |
| Jinan | -20 | -3 |
| Hefei | 10 | 2 |
| Fuzhou | 10 | 2 |
| Nanchang | 80 | 13 |
| Guangzhou | 110 | 17 |
| Nanning | 0 | 0 |
| Changsha | 40 | 6 |
| Wuhan | 0 | 0 |
| Zhengzhou | 100 | 16 |
| Beijing | 10 | 2 |
| Tianjin | 10 | 2 |
| Baotou | 0 | 0 |
| Shijiazhuang | 30 | 5 |
| Taiyuan | 30 | 5 |
| Shenyang | -20 | -3 |
| Changchun | -30 | -5 |
| Harbin | -50 | -8 |
| Chongqing | 270 | 42 |
| Chengdu | 130 | 20 |
| Guiyang | 400 | 63 |
| Kunming | 200 | 31 |
| Xian | 40 | 6 |
| Lanzhou | 80 | 13 |
| Urumchi | 0 | 0 |
Change is on Nov 4th as compared to 28th Oct 2011
Change is per tonne
Rebars
20mm
HRB 400
| Location | CNY | USD |
| Shanghai | -20 | -3 |
| Hangzhou | 10 | 2 |
| Nanjing | -50 | -8 |
| Wuxi | -40 | -6 |
| Jinan | -30 | -5 |
| Hefei | -40 | -6 |
| Fuzhou | 30 | 5 |
| Nanchang | 50 | 8 |
| Guangzhou | 100 | 16 |
| Nanning | 20 | 3 |
| Changsha | 50 | 8 |
| Wuhan | 0 | 0 |
| Zhengzhou | 100 | 16 |
| Beijing | -40 | -6 |
| Tianjin | -10 | -2 |
| Baotou | 0 | 0 |
| Shijiazhuang | 40 | 6 |
| Taiyuan | -20 | -3 |
| Shenyang | -20 | -3 |
| Changchun | -30 | -5 |
| Harbin | -80 | -13 |
| Chongqing | 130 | 20 |
| Chengdu | 200 | 31 |
| Guiyang | 80 | 13 |
| Kunming | 50 | 8 |
| Xian | 50 | 8 |
| Lanzhou | -20 | -3 |
| Urumchi | 0 | 0 |
Change is on Nov 4th as compared to 28th Oct 2011
Change is per tonne
Angle
#5
| Location | CNY | USD |
| Shanghai | -60 | -9 |
| Hangzhou | -50 | -8 |
| Nanjing | -50 | -8 |
| Wuxi | -50 | -8 |
| Jinan | -90 | -14 |
| Hefei | -30 | -5 |
| Fuzhou | 0 | 0 |
| Nanchang | -20 | -3 |
| Guangzhou | 20 | 3 |
| Nanning | 80 | 13 |
| Changsha | 50 | 8 |
| Wuhan | -100 | -16 |
| Zhengzhou | -80 | -13 |
| Beijing | 0 | 0 |
| Tianjin | 100 | 16 |
| Baotou | 0 | 0 |
| Shijiazhuang | -50 | -8 |
| Taiyuan | -50 | -8 |
| Shenyang | -50 | -8 |
| Changchun | -50 | -8 |
| Harbin | -50 | -8 |
| Chongqing | -80 | -13 |
| Chengdu | -100 | -16 |
| Guiyang | -50 | -8 |
| Kunming | -30 | -5 |
| Xian | -150 | -23 |
| Lanzhou | -100 | -16 |
| Urumchi | -50 | -8 |
Change is on Nov 4th as compared to 28th Oct 2011
Change is per tonne
Channel
#16
| Location | CNY | USD |
| Shanghai | -70 | -11 |
| Hangzhou | -50 | -8 |
| Nanjing | -100 | -16 |
| Wuxi | -50 | -8 |
| Jinan | -230 | -36 |
| Hefei | -30 | -5 |
| Fuzhou | 0 | 0 |
| Nanchang | -20 | -3 |
| Guangzhou | 0 | 0 |
| Nanning | 80 | 13 |
| Changsha | 20 | 3 |
| Wuhan | -70 | -11 |
| Zhengzhou | -50 | -8 |
| Beijing | 0 | 0 |
| Tianjin | 100 | 16 |
| Baotou | 0 | 0 |
| Shijiazhuang | -50 | -8 |
| Taiyuan | -50 | -8 |
| Shenyang | -50 | -8 |
| Changchun | -50 | -8 |
| Harbin | -50 | -8 |
| Chongqing | -50 | -8 |
| Chengdu | -80 | -13 |
| Guiyang | -50 | -8 |
| Kunming | -50 | -8 |
| Xian | -50 | -8 |
| Lanzhou | -50 | -8 |
| Urumchi | -50 | -8 |
Change is on Nov 4th as compared to 28th Oct 2011
Change is per tonne
Beam
#25
| Location | CNY | USD |
| Shanghai | -50 | -8 |
| Hangzhou | -50 | -8 |
| Nanjing | -80 | -13 |
| Wuxi | -60 | -9 |
| Jinan | -230 | -36 |
| Hefei | -30 | -5 |
| Fuzhou | 0 | 0 |
| Nanchang | -20 | -3 |
| Guangzhou | 0 | 0 |
| Nanning | 30 | 5 |
| Changsha | 0 | 0 |
| Wuhan | -50 | -8 |
| Zhengzhou | -20 | -3 |
| Beijing | 0 | 0 |
| Tianjin | 100 | 16 |
| Baotou | 0 | 0 |
| Shijiazhuang | -50 | -8 |
| Taiyuan | -50 | -8 |
| Shenyang | 0 | 0 |
| Changchun | -30 | -5 |
| Harbin | -30 | -5 |
| Chongqing | -50 | -8 |
| Chengdu | -80 | -13 |
| Guiyang | -50 | -8 |
| Kunming | -80 | -13 |
| Xian | -50 | -8 |
| Lanzhou | 0 | 0 |
| Urumchi | -50 | -8 |
Change is on Nov 4th as compared to 28th Oct 2011
Change is per tonne
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