CISAMonthly Report: Chinese SteelMarket to be better in 2010
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"China steel market will be better in 2009 than last year, thanks to the gradually recovering global economy" said China Iron & Steel Association (CISA) on its monthly report released on Jan 22nd.
The association also pointed out that as China is going to conduct reform on mining resources tax
and mining exploitation right acquiring etc, the cost of raw materials would increase further, which in turn will support steel prices.
CISA said that China steel price lingered at low level in the whole year of 2009, with steel prices
composite index posted at 103.12 points, down 33.54 points or 24.54% year-on-year. The association's data shows that among all the steel products, medium plate and hot-rolled seamless
pipe were the two that saw the sharpest prices plunge.
The report notes that China domestic steel demand started to warm up quickly on quarter 4 as
supported by government's 4 trillion yuan stimulus package, the market sentiment was largely
strengthened, following with traders' actions to restock and gradually rising steel prices.
When come to the 2010 steel market, the report predicts that the situation will be better than that of 2009, thanks to the recovering global economy, warming-up steel demand and rising
steel-making cost.
INTRODUCTION: CISAMonthly Report
Compiled by the CISA Finance & Assets Dept. / Metallurgical Price Information Center and translated by Mysteel, the CISA monthly review is so far the first CISA publication available in
English presenting a comprehensive description of China's domestic steel market in 12 issues a
year.
The monthly publication covers features of the steel price trends, index movements, probe into the contributing reasons from the perspectives of demand, production, cost, and analysis of the effects that overseas market has cast on China steel sector. By recounting and comparing with the global markets, e.g. those in North America, Europe and other areas of Asia, the monthly publication further explores the fundamentals underneath China's steel industry performance. It also makes forecast on the future market movements and price trending, depicting for its readers a unique market scenario in the eye of China Iron and Steel Association.
The association also pointed out that as China is going to conduct reform on mining resources tax
and mining exploitation right acquiring etc, the cost of raw materials would increase further, which in turn will support steel prices.
CISA said that China steel price lingered at low level in the whole year of 2009, with steel prices
composite index posted at 103.12 points, down 33.54 points or 24.54% year-on-year. The association's data shows that among all the steel products, medium plate and hot-rolled seamless
pipe were the two that saw the sharpest prices plunge.
The report notes that China domestic steel demand started to warm up quickly on quarter 4 as
supported by government's 4 trillion yuan stimulus package, the market sentiment was largely
strengthened, following with traders' actions to restock and gradually rising steel prices.
When come to the 2010 steel market, the report predicts that the situation will be better than that of 2009, thanks to the recovering global economy, warming-up steel demand and rising
steel-making cost.
INTRODUCTION: CISAMonthly Report
Compiled by the CISA Finance & Assets Dept. / Metallurgical Price Information Center and translated by Mysteel, the CISA monthly review is so far the first CISA publication available in
English presenting a comprehensive description of China's domestic steel market in 12 issues a
year.
The monthly publication covers features of the steel price trends, index movements, probe into the contributing reasons from the perspectives of demand, production, cost, and analysis of the effects that overseas market has cast on China steel sector. By recounting and comparing with the global markets, e.g. those in North America, Europe and other areas of Asia, the monthly publication further explores the fundamentals underneath China's steel industry performance. It also makes forecast on the future market movements and price trending, depicting for its readers a unique market scenario in the eye of China Iron and Steel Association.
For further enquiries or a full copy of this report sample, please contact us at
jeff@mysteel.com.cn or by phone at +86-21-26093359.
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