It is reported that China Iron & Steel Association (CISA) released the steel price tendency analysis for 2009 as well as the market prospect for 2010 on January 22. According to the report, the global steel market will be better than 2009 with the gradual recovery of the global economy. However, as the state will issue policies such as resource tax reform and value acquisition for the mining, the cost price including domestic ore will increase further in 2010 and the steel price will be bolstered strongly.
CISA said that in the whole year of 2009, China’s steel price will fluctuate with low level. The domestic steel composite price index averages 103.12 points, down 33.54 points from 2009, a drop of 24.54%. From the average price of the main steel products, the heavy and medium plate as well as HR seamless steel pipe saw largest drop.
For the steel price tendency of 2010, the report pointed out that the global economy will gradually bottom out in 2010 and China’ s economy rally will be consolidated, therefore the steel market demand will outperform that in 2009, but the price will fluctuate. While as the higher raw material price, the steel price will be supported strongly.
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