On 8th Jan., 2009, Mr. Yin Du, the Deputy Director of National Development and Reform Commission (NDRC), stated that the NDRC is currently actively working on the deployment and preparing the plans for the ten important industries under the requirement of the State Council, and the plans may get issued successively in a short time, among which the plans for steel and automobile industries will be the first ones come out.
Recently, based on the price of Jan., the Wugang Steel raised the prices of its major products for Feb. For example, it has raised price of hot-rolled plates by RMB 400 yuan per ton. Before this, Baosteel already orally informed the traders of the prices in Feb. including the prices of hot-rolled and cold-rolled plates will be increased by RMB100-300 yuan per ton.
Upon seeing this, a reported from China International Capital Corporation Limited (CICC) showed that the price rise of this time is actually within the anticipation. After having experienced the sharp drop of 50% from last Oct. to Nov., the steel price started rebounding up from last Dec. during which the plate price rose by as much as 15%-20% and long steels rose by about 6%. In addition, the stock of steel mills are running less and less. It is expected that the steel price will run stable accompanied a slight rise after Chinese New Year. |
