Long product analysis

摘要

The prices of billet and finished products have risen in most markets. In China long product markets have been slower to turn around than flat product markets but prices have at least bottomed out, and show signs of modest rises. Despite the government of China's plans for closing smaller EAF - units, the country's bar mills have failed to rein in excess output and their active export efforts have not been enough to clear unsold stocks. Balance has returned to the market only with the seasonal recovery of building activity. Until late in March downward pressure continued on the prices of many construction industry products, particularly rebars. However, this was the tail-end of the run of stock reductions, and where rebar prices were lowered, the reductions were small - 20-30 ￥/tonne (2.50-4 Australia dollars/tonne). In the largest cities, Shanghai, Beijing and Guangzhou, the seasonal recovery in building activity led to similarly modest price rises. Prices for sections, use of which is concentrated in the most highly developed cities and industrial areas, had already begun to turn up earlier in March.