Barely had the market stabilized after whirlwind collapse since August the breather seemed to transform into yet another round of breath taking correction.
Bearish macro economic indicators and approaching winter proved to be undoing for the gasping market. In domestic market, PMI tumbled to a 32 month low to 48.0 in November. World Bank lowered China’s GDP growth forecast to 8.4% in 2012.FOREX reserves plummeted by USD 3.91 billion in October from September first decline since December 2007.
Construction steel and other downstream industries like auto and household appliances, demand for flat products is hard to improve in the near term with the approaching winter. The malaise has taken roots in North China where winter sets in early.
Iron ore prices already on a corrective course of late mills have become reticent in buying yet again expecting further decline.
The Chinese Long Product Price Index CLPPI has gone down by 80 points last week whereas the Chinese Flat Products Index CFPPI has also gone down by 43 points. The overall price index CHISPI declined by 59 points.
| Class | 18-Nov | 25-Nov | Change | % |
| CLPPI | 7938 | 7858 | -80 | -1.0% |
| CFPPI | 6866 | 6823 | -43 | -0.6% |
| CHISPI | 7330 | 7271 | -59 | -0.8% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category | 18-Nov | 25-Nov | Change | % |
| PI-WRC | 7965 | 7898 | -67 | -0.8% |
| PI-Rebar | 7905 | 7809 | -96 | -1.2% |
PI - Product Index
Flat Products
| Category | 18-Nov | 25-Nov | Change | % |
| PI-PLTS | 6134 | 6089 | -45 | -0.7% |
| PI-HR | 6977 | 6935 | -42 | -0.6% |
| PI-CR | 7110 | 7073 | -37 | -0.5% |
| PI-GP | 6908 | 6854 | -54 | -0.8% |
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 | -100 | -16 |
| Jiangsu | -20 | -3 |
| Shandong | -70 | -11 |
| Fujian | -100 | -16 |
| Guangdong | -70 | -11 |
| Henan | -160 | -25 |
| Hebei | -90 | -14 |
| Shanxi | -50 | -8 |
| Liaoning | -80 | -13 |
| Yunnan | 130 | 20 |
Change is on Nov 25th as compared to 18th Nov 2011
Change is per tonne
WRC
6.5mm
High Speed
| Location | CNY | USD |
| Shanghai | -20 | -3 |
| Hangzhou | 0 | 0 |
| Nanjing | -20 | -3 |
| Wuxi | -20 | -3 |
| Jinan | -70 | -11 |
| Hefei | 0 | 0 |
| Fuzhou | 0 | 0 |
| Nanchang | 20 | 3 |
| Guangzhou | -40 | -6 |
| Nanning | -130 | -20 |
| Changsha | 20 | 3 |
| Wuhan | -10 | -2 |
| Zhengzhou | 10 | 2 |
| Beijing | -120 | -19 |
| Tianjin | -110 | -17 |
| Baotou | -40 | -6 |
| Shijiazhuang | -100 | -16 |
| Taiyuan | -140 | -22 |
| Shenyang | 0 | 0 |
| Changchun | -20 | -3 |
| Harbin | 0 | 0 |
| Chongqing | -120 | -19 |
| Chengdu | -70 | -11 |
| Guiyang | -40 | -6 |
| Kunming | 0 | 0 |
| Xian | -20 | -3 |
| Lanzhou | -50 | -8 |
| Urumchi | 0 | 0 |
Change is on Nov 25th as compared to 18th Nov 2011
Change is per tonne
Rebars
20mm
HRB 400
| Location | CNY | USD |
| Shanghai | -10 | -2 |
| Hangzhou | -20 | -3 |
| Nanjing | -30 | -5 |
| Wuxi | 10 | 2 |
| Jinan | -130 | -20 |
| Hefei | 20 | 3 |
| Fuzhou | 20 | 3 |
| Nanchang | 20 | 3 |
| Guangzhou | -110 | -17 |
| Nanning | -100 | -16 |
| Changsha | -20 | -3 |
| Wuhan | -10 | -2 |
| Zhengzhou | -30 | -5 |
| Beijing | -180 | -28 |
| Tianjin | -160 | -25 |
| Baotou | -70 | -11 |
| Shijiazhuang | -100 | -16 |
| Taiyuan | -80 | -13 |
| Shenyang | -80 | -13 |
| Changchun | -30 | -5 |
| Harbin | 0 | 0 |
| Chongqing | -170 | -27 |
| Chengdu | -20 | -3 |
| Guiyang | -40 | -6 |
| Kunming | 0 | 0 |
| Xian | -50 | -8 |
| Lanzhou | -120 | -19 |
| Urumchi | 0 | 0 |
Change is on Nov 25th as compared to 18th Nov 2011
Change is per tonne
Angle
#5
| Location | CNY | USD |
| Shanghai | -10 | -2 |
| Hangzhou | -20 | -3 |
| Nanjing | -70 | -11 |
| Wuxi | -50 | -8 |
| Jinan | -60 | -9 |
| Hefei | -60 | -9 |
| Fuzhou | -50 | -8 |
| Nanchang | -50 | -8 |
| Guangzhou | -20 | -3 |
| Nanning | -50 | -8 |
| Changsha | -60 | -9 |
| Wuhan | 0 | 0 |
| Zhengzhou | 0 | 0 |
| Beijing | -60 | -9 |
| Tianjin | -50 | -8 |
| Baotou | 0 | 0 |
| Shijiazhuang | -100 | -16 |
| Taiyuan | -100 | -16 |
| Shenyang | -50 | -8 |
| Changchun | -80 | -13 |
| Harbin | -80 | -13 |
| Chongqing | 0 | 0 |
| Chengdu | -20 | -3 |
| Guiyang | -50 | -8 |
| Kunming | 0 | 0 |
| Xian | 0 | 0 |
| Lanzhou | -50 | -8 |
| Urumchi | 0 | 0 |
Change is on Nov 25th as compared to 18th Nov 2011
Change is per tonne
Channel
#16
| Location | CNY | USD |
| Shanghai | -10 | -2 |
| Hangzhou | -20 | -3 |
| Nanjing | 0 | 0 |
| Wuxi | -50 | -8 |
| Jinan | -50 | -8 |
| Hefei | -60 | -9 |
| Fuzhou | -20 | -3 |
| Nanchang | -50 | -8 |
| Guangzhou | -20 | -3 |
| Nanning | -100 | -16 |
| Changsha | -30 | -5 |
| Wuhan | -50 | -8 |
| Zhengzhou | -20 | -3 |
| Beijing | -50 | -8 |
| Tianjin | -120 | -19 |
| Baotou | 0 | 0 |
| Shijiazhuang | -100 | -16 |
| Taiyuan | -100 | -16 |
| Shenyang | -30 | -5 |
| Changchun | -60 | -9 |
| Harbin | -60 | -9 |
| Chongqing | 0 | 0 |
| Chengdu | -20 | -3 |
| Guiyang | 0 | 0 |
| Kunming | -50 | -8 |
| Xian | -30 | -5 |
| Lanzhou | -20 | -3 |
| Urumchi | 0 | 0 |
Change is on Nov 25th as compared to 18th Nov 2011
Change is per tonne
Beam
#25
| Location | CNY | USD |
| Shanghai | -20 | -3 |
| Hangzhou | -20 | -3 |
| Nanjing | 0 | 0 |
| Wuxi | -50 | -8 |
| Jinan | -130 | -20 |
| Hefei | -60 | -9 |
| Fuzhou | 0 | 0 |
| Nanchang | -50 | -8 |
| Guangzhou | -50 | -8 |
| Nanning | -50 | -8 |
| Changsha | -30 | -5 |
| Wuhan | 0 | 0 |
| Zhengzhou | 0 | 0 |
| Beijing | -50 | -8 |
| Tianjin | -50 | -8 |
| Baotou | 0 | 0 |
| Shijiazhuang | -100 | -16 |
| Taiyuan | -100 | -16 |
| Shenyang | -30 | -5 |
| Changchun | -60 | -9 |
| Harbin | -60 | -9 |
| Chongqing | 0 | 0 |
| Chengdu | -20 | -3 |
| Guiyang | 0 | 0 |
| Kunming | -150 | -23 |
| Xian | -20 | -3 |
| Lanzhou | -50 | -8 |
| Urumchi | 0 | 0 |
Change is on Nov 25th as compared to 18th Nov 2011
Change is per tonne
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