metalbiz888
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Joined: 18 Nov 2008
Location: Tianjin
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| CR plate price decline to slow down |
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CR plate market showed no indications of recovery with continuously price decline in recent days and merchants were pessimistic about later market. However, analysts predicted that the price decline of CR plate will probably not stop in a short period but will slow down and turn to be stable.
According to market research, price of CR plate in Shanghai kept decreasing last week, with the average decline at 200 Yuan per ton. This is the same with markets in other areas. For example, the price fell 150-200 Yuan per ton with one week in Hangzhou city and Jinan city. Besides, the price decline trend was so string that there seemed to be no indications of recovery with poor transactions and strong wait-and-see attitude. Merchants predicted that price decline will continue so they dared not to increase inventory as demands remained decreasing.
Because market resources kept increasing, which intensified the contradiction between the supply and the demand, some analyst denoted. News from steel enterprises showed that CR plate inventory remained high which caused great pressure. Steel enterprises are eager to sell even at low prices to speed up inventory delivery, which affected spot price directly. For example, the current price of 1.0mm CR plate was only around 3,750-3,950 Yuan per ton in east China, down 150-300 Yuan per ton. It�s from chinametalbiz.com.
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