China’s longs market continues to fluctuate

December 17, 2009 at 8:00 am

SteelOrbis – Over the past week China’s domestic long products market has retained its fluctuating trend,with a minor slide observed in market prices in most regions and a small climb in some individual markets.

Affected by poor market demand,longs prices in the eastern China market posted an overall declining trend in the past week,which was also caused by the decrease in the steel futures market in the first half of the week. Nevertheless,given the support of high cost levels,the market has not fallen sharply. By the end of December 10,rebar inventory in Shanghai reached 460,000 mt,neutral week on week; meanwhile,wire rod inventory in Shanghai stood at 98,000 mt,up by 5,000 mt week on week.

Driven by the Shanghai market as well as by the decrease in the steel futures market,long product prices in the south registered a minor decline on the whole during the first half of the week; subsequently,however,the market began to see a certain improvement following the recovery of the steel futures market. (Alibaba Group,6 Dec 2009 02:53:24 PST)

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Entry filed under: Asia, Business Development, Business Environment, Business to Business, China, entrepreneurship, General Information, Global Business, NKITA.

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