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Both steel production and inventory rebounded
Source:Xinsteel   Date:2014-09-22

Recently, due to soaring prices of steel billet, a wave of rebounded of steel market happened. But the market rebounded only last for two or three days, now the steel price still on downward trend. According to the statistics, as of 16th this month, the average price of HRB400 12mm rebar in main city is 3105 yuan per ton, decreased by 7 yuan per ton compared with the previous trading day. The average price of 8mm HPB300 high wire in main cities is 3009 yuan per ton, down by 1 yuan per ton compare with previous trading day.

 

The current market demand is not turn good though the golden Septemper coming, the supply pressure still existing which make the steel market lack of motivation. More analysts pointed out that the reason of the price rising mainly because steel prices have already in the historical lowest point, manufacturers have ramped up strength, once the price rising chance encounter, the price increasing retaliatory.

 

According to CISA latest data, the country in early September 2014 average daily production of crude steel in key steel enterprises is 1.7954 million tons in first ten days of September, increasing by 7.1% compare with previous ten days. Data also show that the inventory of first ten days in Sep is 15.136 million tons, increasing by 6.3% compared with previous ten days. 



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