Chinese steel prices rise; imports from Japan slated to jump in Jan.

Dec 20, 2004 | 10:20 AM |

Domestic Chinese prices for flat-rolled steel have risen since early December, and local consumers of imported coils from Japan--particularly Japanese-linked auto parts and appliance makers in the country--shouldn't expect a respite any time soon.

Prices of hot- and cold-rolled coil in the Chinese market rose by 50 to 250 yuan ($6 to $30) per tonne last week due to continued buoyant demand and tight supplies, Chinese traders said.

In eastern China, hot-rolled steel was up by 100 to 250 yuan from early December to between 4,900 and 5,050 yuan ($592 to $610) per tonne while cold roll climbed by 50 to 180 yuan to a range of 6,280 to 6,400 yuan ($759 to $773) per tonne, according to a steel trader in Shanghai.....

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