April 2011 | Coated Steels
Chinese inflational pressure to depress coated demand?: Asian Market Highlights
Asian coated steel markets presented a mixed picture this month.
The beginning of April saw prices on offer slide of 7.8% from traded prices last month for benchmark material up to 1mm thick with Z120. This amounted to a price of $810/tonne, including the 13% tax rebate for May shipment. There has already been some recovery in reported transaction prices to $830/tonne for the same grade material at Shanghai at time of writing however. The month-on-month trend overall is one of prices still falling. Even the small price recovery over the past week has been a result of just a few trades, with little reason to expect a pick up in demand in May .
Chinese monetary policy is tightening to slow down the increasing rate of inflation, implying a downwards price pressure...
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