The price of steel prices in China decreased by 2 percent in January 2014. Construction activities in North China are weak during the winter. Long -scale products reached the maximum fall by 2 percent. The price of flat rental prices is not in the best position, having lost 1 percent due to low production activities.
According to the latest data in China, the procurement (PMI) index fell to 49.6 in January 2014. While in December last year, it amounted to 50.5, which in turn was the lowest result in six months. The production index in January of this year dropped to a three -month minimum of 51.3 at 51.4 in December 2013.
In such a situation, the iron ore market took a serious blow, since already in December China imported 73.38 million tons of iron ore, which is 6 percent less compared to the record 77.84 tons of November. Chinese production became sank in December, eliminating the need to buy iron ore against the background of a low level of production of unrefined steel.
Changes in the Chinese market can be expected at best only after the end of the holidays on February 7. The good news is that the Central People’s Bank of China made $ 42 billion in the monetary market, weakening concern about financial risks in the second largest world economy recently.
The sluggish Chinese market has become amazing the iron ore market
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Azovpromstal® 25 January 2014 г. 10:52 |
