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Monday Market Monitor - China - WEEK 35 - On upward trend- 07 Sep 10

The busy season which is coming and the stock situation in last week have given much confidence to China’s steel market. As a result, many industry insiders have had optimistic remarks about steel price in September, especially the price of long products.
According the latest market survey, last week, the overall stock volume of steel products in China is 15.35 million tonne, down by 0.15 million tonne compared to that of last week. The change of stock volume has a strong and direct effect on the trend of steel prices.
The traditional busy season of construction industry will begin in September and the restrict policy of the use of electricity in some areas will seriously affect the production of mid and small sized steel mills. The combination of the two factors wills certain push steel prices, especially long products price upward.

Sep 7, 2010 09:16
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