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| TITLE |
Chinese steel prices hit by credit squeeze led weakness in demand |
| WRITER |
administrator |
DATE |
2009-08-27 08:21:22 |
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Chinese steel prices hit by credit squeeze led weakness in demand
27 Aug, 2009
According to latest information provided by the Chinese steel spot trading platform, Xiben New Line, in the last week during August 17th 2009 to August 21st 2009, construction steel price in main districts of China continued to fall and the largest decline was CNY 450 per tonne.
Rebar price continued to decrease in Shanghai area, which reduced CNY 170 per tonne last week and by August 21st was CNY 3820 per tonne. Steel price declined very substantially in Beijing area, which reduced by CNY 400 per tonne last week and was CNY 3820 per tonne. Steel price set back quickly in Guangzhou area, which reduced by CNY 370 per tonne last week and was CNY 4060 per tonne.
In accordance with the information of steel spot trading platform, up to August 21st 2009, in the major markets in China, the average price of rebar 25mm was CNY 3943 per tonne, which was down CNY 296 per tonne on last Friday. The average price of high speed wire rod in 6.5mm was CNY 3882 per tonne, down by CNY 304 per tonne.
Resource from www.steelprices-china.com |
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