With each passing day in week 38 and unrelenting rally the clouds of doubts about a short lived rally is receding. Steel prices have rallied by 7% within a fortnight and over 4% within this week.
Pumped by series of stimulus packages in China, USA and Japan acceleration is maintained. Approaching national holidays has spurred the sulking stockiest and mills.
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Source - Strategic Research Institute