The price movement in last 3 weeks signals that Chinese domestic steel market upturn is real with prices gaining about 4%.
| Product | 16-Oct | 06-Nov | Change | % |
| CLPPI | 5627 | 5830 | 203 | 3.6% |
| CFPPI | 5587 | 5819 | 232 | 4.2% |
| CHISPI | 5604 | 5824 | 220 | 3.9% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Item | 16-Oct | 06-Nov | Change | % |
| PI - WRC | 4893 | 5057 | 164 | 3.4% |
| PI - Rebar | 6515 | 6766 | 251 | 3.8% |
PI- Product Index
Flat Products
| Item | 16-Oct | 06-Nov | Change | % |
| PI - Plates | 4884 | 5029 | 145 | 3.0% |
| PI - HR | 5472 | 5768 | 296 | 5.4% |
| PI - CRC | 6326 | 6501 | 175 | 2.8% |
| PI - HDG | 6094 | 6170 | 76 | 1.2% |
PI- Product Index
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Chinese steel market may have a hard time in the last quarter. The environment in general is complex. Some downstream user sector, for example the auto industry is having very strong demand despite downward pressure on prices due to overcapacity and high output.
In last few days, middle and small steel mills have increased their EWX price as a sign of confidence in the changed market conditions. As a result, prices of steel products are rising.
But with the onslaught of winter, demand of construction steel may decrease because of the less construction. Thus it is predicted that the upward tendency in steel prices may be arrested leading to a stable price regime.
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(Sourced fromwww.steelprices-china.com)