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Three major steel mills raise prices at different levels
On November 11, the reporter of "Daily Economic News" was informed that Baosteel's main product prices remained unchanged in December. Baosteel's ex-factory price in November showed that most of the steel products maintained the original price, but some varieties such as hot-dip galvanizing and silicon steel were raised by 100-200 yuan/ton.
Unlike Baosteel's cautious attitude, Hebei Iron and Steel Group and Shagang Group have raised the monthly ex-factory price of steel products by a maximum of RMB 450/ton.
Hebei Iron and Steel Group noticed that its wire rods of Tangshan Iron and Steel Co., Ltd., Xuanhua Iron and Steel Co., Ltd. were raised by RMB 200/ton, the thread was raised by RMB 200/ton, the screw was increased by RMB 330/ton, the hard wire was adjusted by RMB 100/ton, and the welding line was adjusted to 150. Yuan / ton, welding wire up 100 yuan / ton, excellent round up 150 yuan / ton; Handan Iron and Steel Company wire up 250 yuan / ton, thread up 250 yuan / ton, snail up 200 yuan / ton (including tax).
Like Hebei Iron and Steel Group, Shagang Group, the largest private steel mill in China, also adjusted the ex-factory price of some products. Since the middle of this month, its rebar has risen by RMB 400/ton, wire rod has risen by RMB 350/ton, and Pancoon has risen by RMB 450/ton (including tax).
The reporter learned that in the current round of the market, thread and wire once led the steel market, which was mainly due to the fundamentals of supply and demand, and also related to their respective forward market performance.
On November 11, Sheng Zhicheng, director of information on Nishimoto Shinkansen, told the reporter of "Daily Economic News" that the beginning of this round of price increases was the announcement of the second quantitative easing monetary policy by the United States.
Multi-factor uplifting steel price
For the above-mentioned steel mill price adjustment news, my steel network information manager Zhu Xi'an also believes that the impact of the capital market is the main reason for this round of price increases. â€œThe capital market has risen before and after the National Day, and the steel market has raised expectations, but hesitates. Compared with other commodities, steel prices are low before this round of gains. Recently, the US second quantitative easing policy has further enhanced market expectations and confidence. The current price increase can be said to be a correction to the situation at the time."
A large steel purchaser in Hebei told reporters that the initial cause of the rise in steel prices was the decline in supply and the continued consumption of stocks due to energy conservation and emission reduction. "From the perspective of inventory, demand is still good. On the one hand, it may be that factors such as energy saving and emission reduction in the previous period have reduced production, and then there is demand from downstream." Zhu Xi'an said.
In addition, subject to cost pressures, it also forced domestic steel mills to raise the ex-factory price of their products. Recently, the media reported that not only India restricts iron ore exports, but also the three major mines are also controlling the shipment of resources to the Chinese market, resulting in high-grade resources and high prices.
Zhu Xi'an believes that the future trend of steel prices depends on the policy situation. "If the central bank raises the deposit reserve ratio and raises interest rates again, it may suppress the current steel price. If the central bank's next contraction is not strong, then the steel price will maintain the current trend in the short term."
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