China Hot Rolled Price Increases for 5 Straight Weeks in Beijing

Hot rolled flat steel market price increased by 60 yuan to 4,630 yuan per tonne for products with 3 millimeters thickness in Beijing in fifth week of December from the previous week, which increased for 5 weeks in a row, announced by China Iron & Steel Association on Wednesday. The market price is lifted by selling price hike of major steel makers including Baoshan Iron & Steel in January. However, the market price in Shanghai decreased for the first time in 3 weeks. The market price could decline in first half of January due to tight credit policy of Chinese government, according to one executive of Japanese major trading firm.

The hot rolled flat steel market price in Beijing increased by 250 yuan per tonne to fifth week of December from the bottom in first week of November. The price in Chengdu increased by 130 yuan to 4,800 yuan from the previous week. However, the price in Shanghai, which increased by 320 yuan from second week of October through fourth week of December, decreased by 70 yuan to 4,580 yuan in fifth week of December. The price in Guangzhou decreased by 50 yuan to 4,700 yuan.

The cold rolled flat steel market price increased by 70 yuan to 5,700 yuan per tonne for products with 1 mm thickness in Beijing in fifth week of December from the previous week. The price in Nanjing, which decreased in the previous week, increased by 100 yuan to 5,450 yuan.

The concrete reinforcing steel bar market price decreased by 10 yuan to 4,620 yuan for products with 16 mm diameter in Shanghai in fifth week of December from the previous week. The price decreased by 50 yuan to 4,800 yuan in Guangzhou while the price in Beijing increased by 20 yuan to 4,590 yuan, which increased for 2 weeks in a row.