IMMEDIATE ACTION TO UNITE AND ADVANCE BRAVELY
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NLMK North America announced to hike the prices for steel flat products by 4% for next January shipments. Meanwhile, it’s known that the major steelmakers in the US, including Nucor, AK Steel and ArcelorMittal North America have all announced to increase the prices for steel flat products. Nucor hiked the prices by US$22ton; ArcelorMittal North America and AK Steel increased the prices by US$33/ton.
Details>>It’s reported that the Indian steel mills have increased the quotes of hot rolled coils (HRC) by INR1, 200/ton for December, driven by increased prices offered by foreign suppliers. At present, the HRC prices have surged to INR35, 000~INR35, 200/ton (US$644~US$650/ton) in the Indian domestic market. Meanwhile, China’s HRC export quotes to India have increased to US$575~US$580/ton C&F.
Details>>The Chinese Long Product Price Index CLPPI went up by 21 points on December 111th 2012, whereas the Chinese Flat Products Index CFPPI up by 4 points. The overall price index CHISPI increased by 11 points.
Details>>Reuters reported that China's Baoshan Iron & Steel will raise the January booking prices for some of its steel products, a signal the company is increasingly optimistic about its prospects. The company will raise hot rolled coil prices by CNY 80 (USD 12.81) per tonne and cold rolled coil by CNY 60 per tonne. Baosteel's pricing decisions usually set the tone for the rest of the market. Traders said that hot rolled coil prices also rose 5 percent in November, encouraging steel mills to raise
Details>>Feng Hsin, one of the major rebar producers in Taiwan, has decided to cut rebar prices by TWD 300 per tonne to TWD 21,000 per tonne for this week, in response to the changed electricity policy.
Details>>Almost a month long decline in steel prices in the pink of consumption season has not only belied hopes in the trade but also given a food for thought to the policy makers.
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