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Steel prices have been rising continuously for two months, or really into the "Spring" by zyzy wang
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Steel prices have been rising continuously for two months, or really into the "Spring" by ZYZY WANG
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| Article Posted: 05/20/2010 |
| Article Views: 151 |
| Articles Written: 2301 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 718 |
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Steel prices have been rising continuously for two months, or really into the "Spring" |
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Business,Business News,Business Opportunities
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April 12, the main force of steel rebar futures contract closed at 1010, 4872 yuan per ton, the price hit from last year early in August when 4,982 yuan per tonne, "high price", only the thin line.
"Steel prices have been rising continuously for two months, although it is indeed the traditional peak season, but in the case of high inventory, can be regarded as a sort of a small 'miracle' of." Said a Beijing steel traders.
The Shanghai Futures Trader Liu Zhentao said, steel prices likely to continue on the rise, "From the graphics point of view, breaking the 5000 a ton is not impossible."
But only two months ago, the reporter during the interview are generally heard the grievances of steel traders: "inventories hit a record high," "Steel is also non-stop production," "difficult to sell goods," "The market is very optimistic about this year's spring."
At that time, the corresponding rebar around 4300 yuan per ton sold, after 60 days, steel prices rose more than 12% of the nearly 4900 yuan per ton. Do a thorough fundamental change has occurred? The answer is clearly no.
Beijing steel market, steel traders Baiziwan Zhang Yuan said that although steel prices have been rising, but sales did not significantly enlarged. "And two months ago, as steel is more difficult to sell, or a lot of inventory backlog in the hands of traders."
The data provided by Everbright Securities, steel inventories fell last week by 1.69%, to 16.99 million tons, in the eyes of steel traders, steel stocks fell despite a reversal signal, but does not decrease significantly, inventory is still in highest level in history.
"March, the total inventory of steel fell on a monthly 11.1%, but the total inventory level remains higher than the 59.17 percent a year ago." A steel trader said.
This scenario is quite similar to last year: by the end of April 2009, just near the steel futures market started a spectacular rally, April 28 rebar main index only for 3,509 yuan / ton, rising more than three months later, on Aug. 4, 2009 the index rose to 4972 yuan / ton, or as high as 41.7%, and is now similar to that when the steel market demand does not appear blowout.
"Compared to last year, the current rise is totally different." Haitong Futures steel analyst Tian Gangfeng that steel futures market last year, an obvious sign of financial speculation, entirely driven by futures spot prices; and The market follows the spot price is driving the recent futures prices, then push up to the forward contracts.
"Therefore, futures prices have gone up because an enhancement of spot prices." Tiangang Feng said.
However, the spot information given by suppliers is the downstream demand is not strong, that the spot prices of steel power Where?
Tiangang Feng said the country for fear of major iron ore prices soared and steel, the expected significant increase in cost pressure, frequently in the recent price increase on steel prices, which is the main reason leading to rising spot steel prices.
"For instance, sand Steel, March 25 has been mentioned once, but in the April 9 also mentioned a price." Tian Gangfeng introduced, many steel products had a price put a month, but has increased to two times. "Spot prices did rise faster than, I guess the days of steel is relatively better now, at least not likely a loss."
And a steel trader has complained frequently raise prices, the trader's profit margins are further squeezed. "Steel is not to help traders." According to the traders revealed that the steel mills are also conscious of the increase in direct supplies to reduce the supply of traders. "The key is the hands of traders or store a lot of goods."
Tiangang Feng believes that the current steel futures market is in a "do not buy or buy up" the case, "more prices reflected only a feeling, in fact, consumption is flat compared with previous years did not exceed the expected signs. " I am a professional editor from Chinese Manufacturers, and my work is to promote a free online trade platform. http://www.chinaqualitycrafts.com/ contain a great deal of information about hydraulic cylinder tube , octg pipe welcome to visit!
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