Stainless Steel Pipe Fittings

Chinese domestic market opens 2015 on a negative note

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Week 02 opened on a negative note for Chinese domestic steels sector with prices of scrap, billets, rabar, wire rods, plates, HR, CR and HDG posting losses on Monday at many important locations
The most traded May rebar contract on the Shanghai Futures Exchange was down 1.3 percent at CNY 2,560 per tonne. Iron ore futures for May delivery on the Dalian Commodity Exchange fell 1.6 percent to CNY 500 a tonne
Another dimension has been added to Chinese steel market with withdrawal of VAT rebate on exports of some of the steel items on New Year eve as any curtailment of export volumes is likely to add to volumes to already over supplied domestic market in China. 
The price slide on Monday reflects that market players see no respite on demand side and remain in pessimistic mode despite People’s Bank of China changed rules recently to expand the base for calculating loan to deposit ratios starting from 2015 and it was expected that such a revision could unleash an estimated CNY 5.5 trillion (USD 884 billion) of funds and boost investments, in turn increasing demand for steel products
As, the Chinese Lunar New Year starts on February 19th , Chinese domestic price trends in next 40-50 days would be crucial
As China accounts for almost 50% of global steel production and consumption, the increasing weakness casts a shadow over the fortunes of steel mills worldwide
Steel Scrap

Location Price DoD WoW MoM QoQ YoY
Shanghai XXXX -20 -20 -140 -170 -570
Guangdong XXXX 0 0 -160 -170 -650
Guizhou XXXX -60 -60 -130 -160 -670
Beijing XXXX 0 0 0 -50 -390
Liaoning XXXX -30 -30 -30 -140 -510
Xinjiang XXXX 0 0 -30 -30 -610


In CNY per tonne
Inclusive of 17% VAT
Billet

Location Price DoD WoW MoM QoQ YoY
Shanghai XXXX -10 -10 -240 -140 -780
Henan XXXX -30 -30 -300 -280 -860
Hebei XXXX -20 -20 -330 -360 -810
Shanxi XXXX 0 0 -300 -300 -820
Liaoning XXXX 0 0 -280 -290 -820
Yunnan XXXX -20 -20 -290 -290 -770


In CNY per tonne
Inclusive of 17% VAT
Rebar

Location Price DoD WoW MoM QoQ YoY
Beijing XXXX -60 -60 -160 -300 -930
Changchun XXXX 0 0 0 -170 -590
Guangzhou XXXX -20 -20 -250 -120 -910
Guiyang XXXX 40 40 -140 -90 -880
Shanghai XXXX 20 20 -80 -50 -640
Xian XXXX 0 0 -170 -170 -900


In CNY per tonne
Inclusive of 17% VAT
Wire Rod

Location Price DoD WoW MoM QoQ YoY
Beijing XXXX -30 -30 -240 -310 -640
Changchun XXXX 0 0 0 0 -520
Guangzhou XXXX -10 -10 -160 -50 -640
Guiyang XXXX 50 50 -150 -150 -770
Shanghai XXXX -30 -30 -370 -240 -690
Xian XXXX 0 0 -180 -170 -750


In CNY per tonne
Inclusive of 17% VAT
Plates

Location Price DoD WoW MoM QoQ YoY
Beijing XXXX -40 -40 -180 -210 -710
Changchun XXXX -50 -50 -180 -330 -580
Guangzhou XXXX -40 -40 -20 -10 -480
Guiyang XXXX 0 0 -30 -160 -480
Shanghai XXXX -10 -10 -30 20 -640
Xian XXXX -50 -50 -100 -230 -630


In CNY per tonne
Inclusive of 17% VAT
HR

Location Price DoD WoW MoM QoQ YoY
Beijing XXXX -10 -10 -120 -80 -480
Changchun XXXX 0 0 0 -270 -350
Guangzhou XXXX 10 10 -70 -170 -590
Guiyang XXXX 0 0 -10 -50 -360
Shanghai XXXX -10 -10 -40 50 -450
Xian XXXX 0 0 -50 -120 -620


In CNY per tonne
Inclusive of 17% VAT
CR

Location Price DoD WoW MoM QoQ YoY
Beijing XXXX 0 0 -100 -220 -650
Changchun XXXX -30 -30 -30 -260 -540
Guangzhou XXXX 0 0 -70 -80 -500
Guiyang XXXX 0 0 0 -20 -550
Shanghai XXXX 0 0 -20 -140 -540
Xian XXXX -20 -20 -30 -200 -420


In CNY per tonne
Inclusive of 17% VAT
HDG

Location Price DoD WoW MoM QoQ YoY
Beijing XXXX 0 0 -40 -110 -180
Guangzhou XXXX -50 -50 -100 -150 -320
Harbin XXXX 0 0 -110 -110 -260
Tianjin XXXX 0 0 -80 -290 -540
Shanghai XXXX 0 0 -20 -210 -500
Xian XXXX 0 0 -10 -160 -260

Zhejiang Yaang Pipe Industry Co., Limited

Article Categories:
Metals

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