Collect Steel pipe and fitting Resources:
Phone: +86 21 33780199
sales@sunnysteel.com
| + Steel Blog | + Home + Contact Us + Inquiry Now | ||
| Collect Steel pipe and fitting Resources:
|
|
| |
|
November MoM (YoY) percentage changes:
All Products Composite Price: -0.1 (+22.7)
The MEPS Asian Average All Products Composite Steel Price was virtually unchanged in November as reductions in the flat sector were offset by increases in long categories.
China was the only country in which advances in domestic transaction values were recorded during November. Nevertheless, market sentiment began to slip during the final two weeks of the month.
Currency exchange rate movements led to rising Asian selling figures when converted into US dollars.
Inventories in the Asian region remain higher than normal for current market activity.
term outlook
Prices are forecast to soften over December and January due to continued oversupply across the Asian region.
Recent strengthening in the US dollar is expected to add to the downward pressure on Asian average selling figures.
Many traders will be keen to reduce their stock levels towards the year end, limiting sales opportunities for the mills.
Export demand from western countries is also likely to remain low in Asian.
Medium term outlook
Energy saving measures in China, curbing steel production, should help to re balance supply and demand early in 2011.
Anticipated increases in raw material costs are likely to push steel prices higher through to the summer of 2011.
End user demand is expected to grow, albeit at a slower pace than in 2010, as the economic recovery continues across the region.
Prices are likely to slip towards the end of the forecast period for seasonal reasons.
Related products |
|
<
>
|
| ICP No.:08010763
Copyright © 2011 Sunny Steel Enterprise Ltd. All Rights Reserved |
|
