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PrintThe steel price index on the Chinese market demonstrated the first year-on-year monthly rise in November since May this year, as the government's stimulus package gradually carries out.
It is a sign showing the steel price is warning again on the Chinese market, but only for a short run. In a long-term view, the steel price is likely to fall, said analysts.
Some small-sized steel plants have resumed production, leading the iron ore demand to rise by a small margin, especially in North China.
Some market analysts noted that the recent price rise is resulted from the shortage of some steel products, since a number of steel plants had ceased or reduced production before. Thus, the continuity of the recent price rise is still uncertain.
Analysts also warned that current steel consumption is still limited. As more steel plants resume production and the end users fulfill their demand, the general price on the market is still likely to drop again.
(www.chinamining.org)
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