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Print[Ferro-Alloys.com] China's prices of steel products are rising in the various areas. The market prices of steel products in the various areas showed bottoming out in the middle of October 2012, rebounded in late October 2012 in some areas, and are showing the upward trend among a wide range of items across a wide range of areas in this week. In case of flat rolled steel sheets, they have recovered to the level in August when they were continuing to drop and have brought back about 70% from the peak.
According to a source, prices of hot rolled steel coils in Shanghai have risen by CNY 110 since late October 2012 to this week. Also in Tianjin, Beijing and so on, those are rising even slightly by CNY 30 to CNY 40 and such price rise has not stopped. In case of cold rolled steel sheets, most of those prices remain in a state of leveling off while those of steel plates increased by CNY 100 in Tianjin and Shanghai.
In the backdrop of the market price rise, there is the domestic price increase for November shipment by the major mills, and as a result, customers seem to be considering as bottoming out. With this, it seems that a sense of security is going around, and the market prices have risen in each area.
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