The purging in domestic steel prices in China went on full throttle with the in the opening of week 11 irrespective of the inklings in the trade circles that enough is enough and it’s time to get going prices plummeted with renewed vigor.
Just when desperation was writ large on the domestic canvass it seems Japanese Tsunami might just tilt the fortunes for Chinese mills. One is reminiscent of the 1995 earthquake in Japan when the Chinese prices picked up on re construction demand from Japan.
With an anticipated production loss of 30 million tonnes as five major manufacturers closed their production facility on eastern coast is enough to ring bells in the China.
March 15th was the maiden day of respite after the Lunar Holidays with a marginal improvement. Although the improvement is not remarkable but certainly it is the first glimmer of turnaround.
The mood in Chinese market is expectant about enhanced demand from Japan for re construction. Moreover Japan being a major supplier of steel products will be out of action for some time till the production and logistical bottlenecks are overcome. This leaves ample room for neighborhood players viz., China, Korea and CIS mills to step in.
The sparkling performance in the last three days of last week is reminiscent of volatility so typical of dragon land in the post recessionary phase. Demand remaining lukewarm it has been the unexpected hand of god which has been the savior more often than not.
Hitherto the grapevine had it that deflationary measures of the state had punctured the seasonal revival post spring festival. A burgeoning stockpile with the mills, stockiest and traders groaning was the lesser evil in this purging. However a single natural calamity in the neighborhood has soared aspirations to the extent that all the maladies have paled into insignificance.
The Chinese Long Product Price Index CLPPI continued in downward trends with 26 points last week whereas the Chinese Flat Products Index CFPPI also dropped by 81 points. The overall price index CHISPI declined by 35 points.
| Class |
11-Mar |
18-Mar |
Change |
%
|
| CLPPI |
7422 |
7396 |
-26 |
-0.4%
|
| CFPPI |
7410 |
7491 |
81 |
1.1%
|
| CHISPI |
7415 |
7450 |
35 |
0.5% |
CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
Long Products
| Category |
11-Mar |
18-Mar |
Change |
%
|
| PI-WRC |
6316 |
6316 |
0 |
0.0%
|
| PI-Rebar |
8761 |
8702 |
-59 |
-0.7% |
PI - Product Index
Flat Products
| Category |
11-Mar |
18-Mar |
Change |
%
|
| PI-PLTS |
6898 |
6863 |
-35 |
-0.5%
|
| PI-HR |
7514 |
7652 |
138 |
1.8%
|
| PI-CR |
7513 |
7533 |
20 |
0.3%
|
| PI-GP |
7399 |
7424 |
25 |
0.3% |
PI - Product Index
To know more about these indices please visit
http://steelprices-china.com/spi_services/spi.html
1. Long products
Billets
150*150
Q235
| Location |
CNY |
USD
|
| Fujian Province |
50 |
7
|
| Hebei Province |
100 |
15
|
| Jiangsu Province |
0 |
0
|
| Shandong Province |
-100 |
-15
|
| Shanxi Province |
0 |
0
|
| Tianjin |
140 |
20 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
WRC
6.5mm
Common
| Location |
CNY |
USD
|
| Changsha |
0 |
0
|
| Chengdu |
0 |
0
|
| Guiyang |
0 |
0
|
| Hangzhou |
0 |
0
|
| Kunming |
0 |
0
|
| Nanjing |
0 |
0
|
| Shanghai |
0 |
0
|
| Urumchi |
0 |
0
|
| Zhengzhou |
0 |
0 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
Rebars
20mm
HRB 400
| Location |
CNY |
USD
|
| Beijing |
120 |
18
|
| Changsha |
-60 |
-9
|
| Chengdu |
-160 |
-23
|
| Chongqing |
90 |
13
|
| Fuzhou |
-250 |
-37
|
| Guangzhou |
70 |
10
|
| Guiyang |
50 |
7
|
| Hangzhou |
140 |
20
|
| Harbin |
-230 |
-34
|
| Hefei |
-180 |
-26
|
| Jinan |
150 |
22
|
| Kunming |
-280 |
-41
|
| Lanzhou |
50 |
7
|
| Nanchang |
-80 |
-12
|
| Nanjing |
-50 |
-7
|
| Shanghai |
-40 |
-6
|
| Shenyang |
-50 |
-7
|
| Shijiazhuang |
-20 |
-3
|
| Taiyuan |
70 |
10
|
| Tianjin |
80 |
12
|
| Urumchi |
90 |
13
|
| Wuhan |
-50 |
-7
|
| Xian |
-320 |
-47
|
| Zhengzhou |
80 |
12 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
Angle
#5
| Location |
CNY |
USD
|
| Shanghai |
0 |
0
|
| Hangzhou |
-20 |
-3
|
| Nanjing |
0 |
0
|
| Jinan |
0 |
0
|
| Hefei |
-40 |
-6
|
| Fuzhou |
70 |
10
|
| Nanchang |
-40 |
-6
|
| Guangzhou |
50 |
7
|
| Changsha |
20 |
3
|
| Wuhan |
30 |
4
|
| Zhengzhou |
0 |
0
|
| Beijing |
0 |
0
|
| Tianjin |
20 |
3
|
| Shijiazhuang |
0 |
0
|
| Taiyuan |
20 |
3
|
| Shenyang |
0 |
0
|
| Harbin |
0 |
0
|
| Chongqing |
0 |
0
|
| Chengdu |
0 |
0
|
| Kunming |
-50 |
-7
|
| Xian |
0 |
0
|
| Lanzhou |
100 |
15
|
| Urumchi |
-40 |
-6 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
Channel
#16
| Location |
CNY |
USD
|
| Shanghai |
-30 |
-4
|
| Hangzhou |
50 |
7
|
| Nanjing |
20 |
3
|
| Jinan |
0 |
0
|
| Hefei |
-50 |
-7
|
| Fuzhou |
50 |
7
|
| Nanchang |
-20 |
-3
|
| Guangzhou |
0 |
0
|
| Changsha |
20 |
3
|
| Wuhan |
0 |
0
|
| Zhengzhou |
0 |
0
|
| Beijing |
0 |
0
|
| Tianjin |
100 |
15
|
| Shijiazhuang |
0 |
0
|
| Taiyuan |
20 |
3
|
| Shenyang |
0 |
0
|
| Harbin |
0 |
0
|
| Chongqing |
0 |
0
|
| Chengdu |
0 |
0
|
| Kunming |
0 |
0
|
| Xian |
0 |
0
|
| Lanzhou |
0 |
0
|
| Urumchi |
-150 |
-22 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
Beam
#25
| Location |
CNY |
USD
|
| Shanghai |
-20 |
-3
|
| Hangzhou |
30 |
4
|
| Nanjing |
0 |
0
|
| Jinan |
0 |
0
|
| Hefei |
-50 |
-7
|
| Fuzhou |
100 |
15
|
| Nanchang |
-20 |
-3
|
| Guangzhou |
50 |
7
|
| Changsha |
0 |
0
|
| Wuhan |
50 |
7
|
| Zhengzhou |
0 |
0
|
| Beijing |
-50 |
-7
|
| Tianjin |
0 |
0
|
| Shijiazhuang |
0 |
0
|
| Taiyuan |
0 |
0
|
| Shenyang |
0 |
0
|
| Harbin |
0 |
0
|
| Chongqing |
0 |
0
|
| Chengdu |
0 |
0
|
| Kunming |
-50 |
-7
|
| Xian |
0 |
0
|
| Lanzhou |
0 |
0
|
| Urumchi |
0 |
0 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
2. Flats products
HRC
4.75mm
Common
| Location |
CNY |
USD
|
| Beijing |
159 |
23
|
| Changsha |
0 |
0
|
| Chengdu |
34 |
5
|
| Chongqing |
88 |
13
|
| Fuzhou |
110 |
16
|
| Guangzhou |
230 |
34
|
| Hangzhou |
60 |
9
|
| Harbin |
72 |
11
|
| Hefei |
-26 |
-4
|
| Jinan |
42 |
6
|
| Kunming |
-70 |
-10
|
| Lanzhou |
172 |
25
|
| Nanchang |
59 |
9
|
| Nanjing |
189 |
28
|
| Shanghai |
130 |
19
|
| Shenyang |
200 |
29
|
| Shijiazhuang |
-37 |
-5
|
| Taiyuan |
60 |
9
|
| Tianjin |
162 |
24
|
| Urumchi |
-19 |
-3
|
| Wuhan |
170 |
25
|
| Xian |
-97 |
-14
|
| Zhengzhou |
101 |
15 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
Plates
20mm
Common
| Location |
CNY |
USD
|
| Beijing |
-19 |
-3
|
| Changsha |
-25 |
-4
|
| Chengdu |
0 |
0
|
| Chongqing |
-19 |
-3
|
| Fuzhou |
-81 |
-12
|
| Guangzhou |
20 |
3
|
| Hangzhou |
-130 |
-19
|
| Harbin |
-50 |
-7
|
| Hefei |
-50 |
-7
|
| Jinan |
-28 |
-4
|
| Kunming |
-80 |
-12
|
| Lanzhou |
150 |
22
|
| Nanchang |
-85 |
-12
|
| Nanjing |
-20 |
-3
|
| Shanghai |
-99 |
-15
|
| Shenyang |
-55 |
-8
|
| Taiyuan |
-60 |
-9
|
| Tianjin |
60 |
9
|
| Urumchi |
-10 |
-1
|
| Wuhan |
5 |
1
|
| Xian |
30 |
4
|
| Zhengzhou |
-58 |
-9
|
| |
|
|
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
Pig Iron
Z18-22
Foundry
| Location |
CNY |
USD
|
| Kunming |
0 |
0
|
| Changzhou |
0 |
0
|
| Xuzhou |
20 |
3
|
| Linyi |
0 |
0
|
| Weihai |
0 |
0
|
| Wuan |
0 |
0
|
| Taiyuan |
0 |
0
|
| Yicheng |
0 |
0
|
| Linzhou |
0 |
0
|
| Guiyang |
0 |
0
|
| Harbin |
0 |
0
|
| Anshan |
0 |
0 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
HR Strip
183*2.75
| Location |
CNY |
USD
|
| Shanghai |
60 |
9
|
| Hangzhou |
90 |
13
|
| Guangzhou |
120 |
18
|
| Wuhan |
90 |
13
|
| Tianjin |
150 |
22
|
| Chengdu |
50 |
7
|
| Wuxi |
80 |
12
|
| Lecong |
120 |
18
|
| Tangshan |
90 |
13 |
Change is on Mar 18th as compared to 11th Mar 2011
Change is per tonne
CR
1.0mm
Common
| Location |
CNY |
USD
|
| Beijing |
50 |
7
|
| Changsha |
0 |
0
|
| Chengdu |
50 |
7
|
| Chongqing |
0 |
0
|
| Fuzhou |
0 |
0
|
| Guangzhou |
-30 |
-4
|
| Hangzhou |
80 |
12
|
| Harbin |
0 |
0
|
| Hefei |
50 |
7
|
| Jinan |
30 |
4
|
| Kunming |
0 |
0
|
| Lanzhou |
-20 |
-3
|
| Nanchang |
0 |
0
|
| Nanjing |
0 |
0
|
| Qingdao |
20 |
3
|
| Shanghai |
0 |
0
|
| Shenyang |
30 |
4
|
| Shijiazhuang |
0 |
0
|
| Taiyuan |
50 |
7
|
| Tianjin |
50 |
7
|
| Urumchi |
-30 |
-4
|
| Wuhan |
50 |
7
|
| Xian |
0 |
0
|
| Zhengzhou |
-30 |
-4 |
|
