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 Price Index
06-Nov
05-Nov
30-Oct
WoW
06-Oct
MoM
06-Nov
YoY
ILPPI
5926
5946
Down
5958
6198
7390
IFPPI
7247
7273
Down
7365
7527
8226
INDSPI
6555
6578
Down
6628
6831
7788
06-Nov
05-Nov
30-Oct
WoW
14-Oct
MoM
06-Nov
YoY
CLPPI
5830
5828
Up
5779
5642
6401
CFPPI
5819
5803
Up
5775
5591
5186
CHISPI
5824
5814
Up
5777
5613
5713
05-Oct
04-Oct
29-Sep
WoW
06-Sep
MoM
06-Oct
YoY
MLPPI
3807
3807
Same
3807
3825
6929
MFPPI
5250
5250
Same
5250
5253
9005
MEASPI
4244
4244
Same
4244
4258
7558
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Sunday, 08 Nov, 2009
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High inventories to push Chinese steel prices low in Q4 - CISA

According to China Iron & Steel Association, China could see a drop in steel products price on the domestic market in the Q4 due increasing stockpiles of rolled steel and billet

CISA figures showed that at the end of September, steel inventories at 26 major Chinese cities rose 91%YoY to 11.13 million tonnes. Stocks of 68 large and medium sized iron and steel enterprises totaled 11.55 million tonnes, 14.26% more than that at the beginning of the year.

CISA said increasing stocks could spur further price decline, and lead to enterprises losses. The association said export of Chinese steel plunged by 68% to 15.7 million tonnes YoY in January to September. During the same period, the import went up 37%YoY.

CISA forecast China crude steel output was to increase by 10% in 2009 from the previous year. Taking weakening steel export into account, steel in supply would increase by 25% in 2009.

CISA said China steel industry was facing an undoubted fact of overcapacity as the country accounted for almost 50% of the world total crude steel output.

To solve the problem, CISA said China should step up efforts to strike a balance between supply and demand in the sector by promoting innovation and technological upgrading, eliminating overcapacity, enhancing sector consolidation and cutting crude steel production.

(Sourced from www.chinamining.org)

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A riveting story

Featured Article

In Weak Rivets, a Possible Key to Titanic’s Doom The RMS Titanic was an Olympic-class passenger liner owned by the White Star Line and built at the Harland and Wolff shipyard in Belfast, Ireland, United Kingdom. For her time, she was the largest passenger steamship in the world. On the night of 14 April 1912, during her maiden voyage, Titanic hit an iceberg and sank two hours and forty minutes later, early on 15 April 1912.

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PSL Holdings upbeat on strong pipe order book

In an interview with CNBC-TV18, Mr Ashok Punj, MD of PSL Holdings Limited spoke about the results and his outlook for the company. Here is a verbatim transcript of the exclusive interview with Mr Ashok Punj on CNBC-TV18. Also watch the accompanying video.

Q - Can you take us through your numbers?

A- We did a topline of INR 606 crore, last year it was INR 661 crore and the net profit was INR 21.58 crore against the previous year's quarter number of INR 21.61 crore.

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Mr Ashok Punj
MD
PSL Holdings Limited
 
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 Currency Rate
08 Nov, 2009
USD
1.0000
AUD
1.0883
BRL
1.7185
CAD
1.0748
CNY
6.8284
EUR
0.6738
GBP
0.6019
INR
46.8100
JPY
89.8750
RUB
28.9750
ZAR
7.5643
Source: http://www.xe.com

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 Metal Rates
05 Nov, 2009
Zn
2185
Ni
17805
Sn
15000
Al
1885
Cu
6526
Source: LME.co.uk
 
 Baltic Dry Index
06 Nov, 2009
BDI
3393
BCI
5583
BPI
3556
BSI
1888
Source: DryShips.com
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