Unstoppable rally in Chinese steel market is there to stay
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Friday, 21 Sep 2012
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.
| Class | 14-Sep | 20-Sep | Change | % |
| CLPPI | 6287 | 6564 | 277 | 4.4% |
| CFPPI | 5593 | 5836 | 243 | 4.3% |
| CHISPI | 5894 | 6151 | 257 | 4.4% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
(www.steelprices-china.com)
Source - Strategic Research Institute
(www.steelguru.com)
