Related News
Capacity glut alert as steel prices rise
By Zhu Shenshen |
November 15, 2012, Thursday
|
Print Edition
Print Edition
China's steel prices rose again in October but the China Iron and Steel Association warns steel makers to be cautious of overcapacity which will erode their profit margin.
The China Steel Price Index in October was 105.4 points, up 2.87 percent from the previous month, CISA said yesterday. The growth was 1.96 percentage points higher than September's.
"As fixed-asset investment increased to boost economic growth in China, the demand for steel has rebounded since September and is expected to continue in November," CISA said in a statement on its website.
The total inventories of five main steel products, including hot-rolled coil and rebar, in 26 major markets fell 2.8 percent from the end of October to 12.08 million tons last Friday, according to CISA.
But it also warned that cold weather in China's northern regions and growing supplies will weaken the demand and further weigh on prices because of possible overcapacity as some suspended capacities resumed.
Ma Guoqiang, general manager of Baoshao Iron and Steel Co, the country's biggest listed steel maker, has warned that margins will be squeezed by the rising iron ore and coal prices.
The China Steel Price Index in October was 105.4 points, up 2.87 percent from the previous month, CISA said yesterday. The growth was 1.96 percentage points higher than September's.
"As fixed-asset investment increased to boost economic growth in China, the demand for steel has rebounded since September and is expected to continue in November," CISA said in a statement on its website.
The total inventories of five main steel products, including hot-rolled coil and rebar, in 26 major markets fell 2.8 percent from the end of October to 12.08 million tons last Friday, according to CISA.
But it also warned that cold weather in China's northern regions and growing supplies will weaken the demand and further weigh on prices because of possible overcapacity as some suspended capacities resumed.
Ma Guoqiang, general manager of Baoshao Iron and Steel Co, the country's biggest listed steel maker, has warned that margins will be squeezed by the rising iron ore and coal prices.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
