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Market Summary 24th,Apr


201

       Last week, the price of cold rolling cut a lot, and hot rolling quote was in a mess state. Concentrated overhaul and the news of major accident in Beihai Chengde lead to a direct reduction of 50 thousand tons material. But these incidents could not help to boost the market. Maybe the market need some time to be stable. This week, the price continued to go down again. Whether cold rolling or hot rolling price made a big cut, but it seemed that there was not the endless for the price reduction. Also, the steel mill also got a hit. But, the most serious damage was to some large traders and pipe factories. In addition, some large mills in Guangxi Province are planning to adjust the extra thickness charge, there will be a charge reduction of 15-30USD among different thicknesses. Does it mean

that mill is going to create another form of "falling prices"? Under the current situation, some mills have begun to intervene the price and take measures to keep the price stable. Hopefully there will be a positive result son.


304

       Last week, the Foshan market 304 prices continued to fall because of lower demand of downstream. This week, many traders said even if there is no profit, but still could not promote the deals. The present business was facing loss, and also new resources are on the road! Now many companies were facing a difficult period. The situation made the market outlook is full of melancholy. Because of weak performance in the market, steel mills preferred those agents reduce the order volume and they didnt want to continue to cut prices. Besides, the mills did not allow the agents sold the material which was lower than the cost, otherwise the rebate and agency qualification will be cancelled. That is to say, the mills were aware that price reduction was not helpful for sales, so the ideas need to be adjusted.


430

       Steel mill frequently adjusted the price for 430. The trend was slight decline in the mainstream quotes. Because of weak transaction, there was price but low sales. The trade in the market was a little. The main reason was that the market demand was not in a positive state and the financial pressure was in a high state.