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Monthly Research Report on Steel and Raw Material Markets in China

Research and Markets (http://www.researchandmarkets.com/research/03bb51/monthly_report_of) has announced the addition of the "Monthly Report of China Steel and Raw Material Markets Issue 0809" report to their offering.

Monthly Report on China HRC/CRC Market in Aug.2009

In Aug., Chinese HRC/CRC market price fell back after peaking out. Market prices throughout China posted massive increase in early Aug; the prices of 1.0mm HR plate, 2.75mm HRC and 5.75mm HRC increased to CNY5450 per tonne, CNY4468 per tonne and CNY4349 per tonne respectively in 28 leading cities of China.

However, market price logged a fast decrease later, and performed volatile starting from the latter half of Aug. As per statistics by SteelHome benchmark price index (SH_CSPI) on Aug. 31, domestic steel price index positioned at 95.9 points, down 7.63 percent from the end of July; flats price index stayed at 85.87 points, decreasing 6.46 percent, of which HRC price index stood at 81.88 points, declining 8.95 percent and CRC price index attained 84.35 points, slipping 3.19 percent.

Monthly Report on China Construction Steel Market for August, 2009

China construction steel market started to fall after spiking in August, and the price level receded to the average level of middle June. The major reasons to the downfall were rising production, higher inventory and shrinking demand. Many steel mills were boosting product lines of construction steel, which would sabotage the balance of supply and demand. The spot price of construction steel was already close to the operation cost, and the stocks at hands are overwhelmingly devalued. The marketplace inventory will be consumed gradually in September, the hot consumption season traditionally, and construction steel market would visit the bottom in September.

China scrap market calmed down from high level and had a volatile performance in August. At the beginning of the month, scrap price ever touched 2009' s peak. However falling steel price dampened steelworks' activities in replenishing scrap stocks, market price of scrap stepped in the downtrend as a result.

The recovery of overseas steel industries affected China 's scrap imports, scrap supply tension will continue in the future, which will underpin scrap price to some extent. It is predicted that China scrap price will volatilize slightly in September.

Source: http://www.researchandmarkets.com/

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