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Black Monday overshadows terrible Tuesday in China

Steel News - Published on Wed, 25 Jul 2012

Day 2 into week 30 diarrhea continued in the Chinese steel market. Steel prices lost 2% in the first 2 days leaving everybody clueless about when the bottom will be reached.

Even though July is low demand season owing to monsoon but the magnitude of decline is unfathomable. Last time when the price declined over 1% was in last Oct when it dropped over 1% for two consecutive days of Oct 20 and Oct 21.

Class20-Jul24-JulChange%
CLPPI68166669-147-2.2%
CFPPI62206098-122-2.0%
CHISPI64786345-133-2.1%

CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index
www.steelprices-china.com

Source - Strategic Research Institute

(www.steelguru.com)
Posted By : admin on Wed, 25 Jul 2012
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