June 2009 | Coated Steels
Chinese steel prices firm: Asia Market Highlights
Chinese prices buoyed by construction, auto production
China’s steel market is showing clear signs of having benefitted from the government’s economic stimulus, and it is to an extent helping to push steel prices higher in other east Asian markets. If it were not for strong demand for coated steel in China (whether this demand is premised solely on firming end-use demand rather than speculative buying is another issue, and one we will address below) MBR is certain that domestic prices in other neighbouring markets would be coming under pressure from Chinese export offers. The situation in China is, in short, allowing mills in South Korea, Japan and Taiwan to rebuild their order books and regain domestic market share.
The India market is to an extent the exception to this pattern of...
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