September 06, 2008

Chinese domestic steel prices edges up last week

According to statistics released by China’s top planning body National Reforms & Development Commission, China's steel price edged up last week along with continuously climbing iron ore price.

Based on market monitoring of 22 key cities, the four major steel products' composite price averaged CNY 4477 per tonne up by 0.2% WoW or 19.1% YoY.

Prices for wire rod, rebar, medium plate and CR sheet posted at CNY 3970 per tonne, CY 4148 per tonne, CNY 4671 per tonne and CNY 5120 per tonne respectively.

In specific, medium plate and CR sheet lost CNY 6 per tonne and CNY 13 per tonne respectively down by 0.1% WoW and 0.3% WoW. Rebar and wire rod gained CNY 30 per tonne and CNY 27 per tonne both up by 0.7% WoW.

Wire rod gained CNY 743 per tonne, rebar CNY 939 per tonne, medium plate CNY 921 per tonne and CR sheet CNY 242 per tonne up by 23% YoY, 29.5% YoY, 24.6% YoY and 5% YoY respectively.

(Sourced from MySteel.net)