PRICES CONTINUE TO ADVANCE, IN FEBRUARY
MEPS Chinese dealer prices increased
marginally across flat and long products, in February, despite slow activity, in
the region, due to the Lunar New Year celebrations.
In February, MEPS reported that domestic
transaction prices for hot dipped galvanised coil escalated by RMB50 per tonne.
Selling figures for plate and cold rolled coil advanced by RMB30 per tonne. Hot
rolled coil values rose by RMB20 per tonne.
In long products, medium sections prices increased, last month, by RMB20 per
tonne as wire rod and reinforcing bar values were steady, month-on-month.
However, merchant bar figures contracted by RMB10 per tonne.
Chinese domestic steel selling figures are likely to advance further, in the
short term, as steel consumption, especially in the construction sector, is
expected to ramp up.
However, MEPS believes that the price recovery will be temporary, with activity,
in most steel consuming sectors, projected to slow down in the third trimester.
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