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Market Summary 6th,March

201

         On Monday steel mill’s quotation remainedthe same with last Friday closing price. According to market quotation, pricesgenerally increased. The pressure of sales was relieved, especially thinmaterial and sheet. People kept a positive attitude on price in the latermarket, and it focused on deliver goods at this moment.

           201 market has been crazy since March 1st.At that day, Foshan 201/2B/1219mm width/cold rolled/coil future goods couldreach FOB 1555 USD/MT as highest position, and this price has been alreadycreated the highest record for nearly 3 years. Why cold rolled future goodsprice is higher than stock goods? The reason is that 201 price is expected torise in future market. In fact, hot rolled price is also rising like coldrolled. According to the actual market situation, since Feb.27th hotrolled transaction has been very good, but basically are future orders. At thesame time, stock goods price has been improved in nearly two days, but it isstill lower than future goods price. Currently J1 stock goods transaction isnot active, but future goods transaction is quite good.

          Therecent 201 market transaction is hot, and it is expected that there is risingspace in the short term.


304

              Affected by nickel rise in price lastFriday, Foshan market 304 stainless steel price increased about 30-45 USD/MTprice compared to Friday. Merchants said that near the end of February,  therewere lots of resources, but the fund was less. Because of this reason, eventhough prices increased, but merchants were urgent to sell goods, so the quotationcould has discount.

               March 1st was the beginning ofthe month, currently the market stock is not sufficient. When the fund pressurerelatively relieved at the beginning of March, cold rolled market mainlymaintained prices or increased prices slightly. Hot rolled market wasrelatively steady, some kinds of dimension was out of stock therefore the spaceto offer discount was small.

               Itis expected that purchase demand will be enlarged step by step in March, andmarket inventory will be reduced gradually, the better 304 market will comesoon.



430

          On Monday Wuxi market 430 price was risen alittle, however, Foshan TISCO 430/2B guiding price was the same with lastFriday, quoted FOB 1390 USD/MT. Wuxi market TISCO 430 price had a littleadjustment, the price difference between Wuxi and Foshan would be shortened.

          Foshan TISCO 430 steel mill guiding pricewas still quote the same FOB 1390 USD/MT on March 1st.

            Accordingto the current transaction, it is not enough good. March has been arrived, butthere is still not much demand in the market. Merchants mostly keep a so soattitude on the future market. It is expected that 430 market will be steady inthe short term.