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| TITLE |
Chinese long product market to see rectification before spring festival |
| WRITER |
administrator |
DATE |
2010-01-14 09:25:16 |
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Chinese long product market to see rectification before spring festival
13 Jan 2010
It is reported that the rebar market presented vigorous increases after entering the New Year, citing a CNY 160 gain for the 18 mm to 25mm II-grade product during December 31st to January 4th in Shanghai.
Mr Liang Taigeng general manager of Shanghai Hualei Enterprise Development Co Ltd said after so fast rise, it is expected to see fluctuations on the market before coming of the Spring Festival.
He said that the rise had no foundation because the actual demand was short. January remains to be a traditional weak season for construction steel consumption. And the situation this year is intensified by the snowstorm in many places. Construction projects are seriously affected on attack of cold fronts.
Mr Liang said the increasing product cost, contributed by higher prices of coke, coal, iron ore and scrap, pushed up the ex-w prices, which in turn lends pressure on the spot market where the spot price sometimes falls behinds the ex w price. This is another uncertainty that may work on future market.
He said that in March and April the construction market may hail real warmth after the adjustment and fluctuations expected in near future.
Resourced from www.Mysteel.net |
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