Chinese steel market to face uncertainties till 2009 end
Updated: 2009-11-02 11:36:22
The high inventories and the imbalance between supply and demand have affected market players’ confidence to Chinese steel market. But the rebound in the middle of October is given a positive impression to players, though it just remains a short time, especially the increase of HR price.
Chinese steel market situation has witnessed lot of uncertainties and ups and downs in the last two months of 2009 due to following factors
1. High level of production
According to the data of National Bureau of Statistics, total volume of plate is 231 million tonnes in the first nine months of 2009 up by 5.4%YoY. HRC and medium strip occupy 119 million tonnes up by 11.5% YoY. In other words, due to high rate of increase, the imbalance between supply and demand has surfaced clearly.
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(Sourced from http://www.steelprices-china.com/)
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