| Clips | ||
| Baosteel may lower Q4 price amid weak market - 26 Aug, 2008 | ||
|
It is reported that Baosteel has yet to release steel prices for the Q4, which was usually issued around August 20th, while the market is widely expecting a decrease. A first tier distributor of Baosteel surnamed Mr Zhang said he hasn't yet got a notice of the Q4 price, while a principle with Baosteel's trading company fended off a direct reply, noting a result will come out next week. An analyst close to the company said that "It's with small possibility that Baosteel will publicize the Q4 prices, but may negotiate with each consumer like it did in the third quarter.” According to Mr Wang Zhaohua a steel researcher with TX Investment Consulting Co, it's very likely the top producer may cut Q4 prices. He said that the reversal is expected not to last long, while as seen from the present situation, it's likely the steelmakers may take the initiative to make the prices in line. Based on a monitoring report by the Ministry of Commerce, China's domestic steel prices averaged CNY 6124 per tonne in the first half of August down by 2.2% from the second half of July. In specific, wire rod is down by 2.4% flats down by 2.1%, pipe/tube 1.0% and sections 1.0%. Meanwhile, the producers' inventory is up, along with chopped ex-factory price, which is yet only to face poor buying interest. (Source: www.caijing.com.cn) | ||
| News And Trends | ||
 | Indian iron ore spot prices decline last week | |
|
| Indian iron ore spot prices decline last week | |
|
| Indian iron ore spot prices decline last week | |
