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Market Summary,13th Feb


            Since Feb. 2nd, Foshan stainless steel factories andtraders have been back to work successively. The market price is mainly flat, butcurrently the traders who have been back to work do not enter the state, so thetransaction is not very positive. According to the current market situation,resources are relatively abundant, small traders continue to sell off theirgoods. Only when small traders’ resources are sold off, the effect of big agentsupport price will highlight. It’s expected that prices will continue to beweak in the short term.


           On Monday Foshan traders have been officially back towork. Cold rolled is mainly steady, while hot rolled is facing some drops, thefalling range is 30 usd/ton. Although LME nickel rise, Foshan 304 market price isfacing some drops, some origin price falling range is relatively large. In Februarythe sales cycle is short, and inventory pressure is large, hence traders haveno choice but to cut price for clinching a deal. It’s expected that this downtrendwill continue.


           After Chinese Lunar New Year, most trading companieshave been back to work and everything is back to normal, but the operation isrelatively slow, and the market atmosphere is cold. The market transaction is nothot, and people has not entered flow state. The overall price trend is notoptimistic, and the market seems slightly weak. It’s expected that market needsome time to adjust the holiday syndrome.