Steel Prices in China Are At the High Level in the World
According to the report of China Stock Network (www.cnstock.com), Mr. Wu Xichun, a consultant of China Iron and Steel Industry Association and the former vice minister of metallurgical industry ministry of China, recently said that the steel prices in China are currently at the high level in the world.
He said this steel prices’ big raise in the first two months this year has covered not only the burden of the main fuel cost raise, but also the future cost raise caused by the iron ore price raise after April. "If the steel production in China had not been reduced in January and February, and the demands had not kept strong, the steel prices in China would not rise so fast." He said.
According to reports, the world iron ore prices will be 65 percent higher in 2008 than in 2007; in 2007, China’s GDP rose by 11.4 percent, the CPI (Consumer Price Index), however, rose by 4.8 percent—also fast.
Please note: We reserve the copyright of this article. This article cannot be copied or quoted unless it is stated that this article is referenced and the web address (URL) of this article or our website is included in the article or webpage which copies or quotes this article. But anyway, linking to this article or our website is permitted and is appreciated.
On the other hand, this article is available for modification and reuse under the terms of the Creative Commons Attribution-Sharealike 3.0 Unported License and the GNU Free Documentation License (unversioned, with no invariant sections, front-cover texts, or back-cover texts).
No comments yet.
No trackbacks yet.