Learn Chinese - No end in sight for steel price hikes

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No end in sight for steel price hikes

www.chinanews.cn 2005-03-23 13:01:44

Chinanews, March 22 - The China Logistics Information Center (CLIC)
recently disclosed that, in February, the average price of the national
steel products market rose 1.6% over the previous month, up 1.1%
year-on-year and down 3.8% compared with the end of last year.
A source from the CLIC believed that this was brought about by cost
hikes. The tense situation of China's coal, electricity, oil and
transportation markets have not been alleviated this year, and the prices
of iron ore, coke, pig iron and steel scrap rose continuously.
In addition to cost hikes, a comparatively strong demand and low stock of
steel products this year pushed the price up. According to market
information, available processed steel stock in the first two months of
this year was lower than that during the same period last year. The
overall price of steel products is predicted to remain high in the first
half of this year.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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