November 2013 | Steel Raw Materials
Despite a weaker steel market and a disappointing Third Plenum, prices remain firm: Coke and Coking Coal Highlights
Sentiment among market participants in China waned after the economic reforms announced were vague on detail.
It was hoped that the Third Chinese Plenum meeting would deliver a robust plan to sustain economic growth and thereby fill buyers with confidence. However, as it turned out, sentiment among market participants shifted lower, after it emerged that the economic reforms being announced were rather vague on detail. In addition, the countrys spot steel market weakened as output and inventory levels moved higher.
According to data estimates from the China Iron and Steel Association (CISA), the country produced 2.144m tonnes of crude steel per day in the first ten days of November, up by 2.2% from the last ten days of October. Moreover, as demand failed to keep pace with supply, CISA member mills combined steel inventory climbed to 12.926m tonnes by the end of the...
ACCESS RESTRICTED
You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.
SUBSCRIBE
Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as its published.
Subscribe