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CISA: Steel prices will continue to rise underpowered to run low volatility

CISA: Steel prices will continue to rise underpowered to run low volatility

Release Date:2013-08-12 00:00 Source:http://www.ksyyc.com Click:

CISA November 15 released monthly analysis report pointed out that with the weather starting to turn cold , post-market steel ( 3570,18.00,0.51 % ) consumption will enter the off-season , because the domestic market is still in oversupply situation , steel prices continue lack of upward momentum , to remain on a low volatility running posture.
On Hind, the report points out , by the European debt crisis , global economic growth declined, especially in the euro zone economic growth and demand for steel situation is not optimistic ; With China's integration into the global economy gradually improved level of process by the international economic situation the impact is even more pronounced.
But nearly two months since the economic data to see , signs of economic stabilization and more obvious slowdown in economic growth has been initially curbed, is expected to achieve annual economic growth of more than 7.5 percent growth target. With the late "steady growth" measures being implemented , the domestic market demand situation will be further improved. In addition, rising raw material prices , the supporting role of steel have also been enhanced.
On view in October , the report shows , with the national " steady growth" implementation of policy measures , an increase in market demand , coupled with the market is still in steel consumption season, steel prices continued the emergence since late September rebound. The reason, first is " steady growth" measures show effect , steel demand situation has improved ; steel resource supply was reduced , but also conducive to ease the contradiction between supply and demand ; Additionally , with steel stocks continue to decline , further reducing market pressure .
Statistics show that as of the end of October , CISA CSPI composite steel price index 105.39 points, an increase of 2.87% MoM , picked up two consecutive months ; representing a decline of 14.12% . Which , CSPI index for long 109.52 points, an increase of 3.38% MoM YoY decline of 14.30% ; sheet index was 102.77 points, an increase of 2.69% MoM YoY decline of 13.76% .
The same period , eight varieties of steel Steel Association was monitored in seven rebound , including high line, rebar , plate and hot rolled coil prices continue to rise , up 3.84 percent , respectively , 4.62% , 1.99% and 3.68 % ; angle steel , cold-rolled sheet and galvanized sheet prices by lowering turned up , an increase of 1.21% , respectively , 1.71% and 0.69% ; hot-rolled seamless pipe prices remain stable .
In late October , the nation's major steel market social stock of steel was 12.43 million tons , on a monthly decline of 0.84 percent , the eighth consecutive monthly decline ; compared with the end of 2011, a decrease of 3.63% ; representing a decrease of 13.29% .