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Good news: Baosteel has raised prices in March 2013, the 4th straight month of increase)
Global Times reported that Baoshan Iron & Steel Co would raise the prices of its major products in March by CNY 100 to CNY 300 (USD 16.08 to USD 48.24) per tonne, or around 5% of its February price, due to increasing orders and rising costs.
The company just 10 days ago announced a February increase in booking prices for its major products by CNY 80 to CNY 160 per tonne making March the fourth straight month Baosteel has raised its prices. The total increase over the past four months is CNY 500 to CNY 570 per tonne.
Mr Wang Guoqing director at the Beijing Lange Steel Information Research Center told the Global Times that " The price hike reflects an optimistic outlook on steel demand in the first quarter.”
Prices of Baosteel products are regarded as a bellwether for China's steel industry. Other major steel mills, such as Anshan Iron and Steel Group and Wuhan Iron and Steel Group, also raised their prices for February.
Mr Hu Yanping a senior analyst at industry portal custeel.com, told the Global Times that " More major steel makers are very likely to follow suit and raise their March prices.”
Mr Hu noted that orders in the industry have been rising during the past two months, given demand from downstream users is increasing for spring, traditionally a high season for construction and the manufacturing sector.
Source - Global Times
(www.steelguru.com)Hulumas ( Date: 27-Jan-2013 20:50) Posted:
I shall do the same!
iwonder ( Date: 23-Jan-2013 23:27) Posted:
Will add some more........
Have already sown the seeds....... the seedlings will definitely grow and propogate into a forest |
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I shall do the same!
iwonder ( Date: 23-Jan-2013 23:27) Posted:
Will add some more........
Have already sown the seeds....... the seedlings will definitely grow and propogate into a forest.
Isolator ( Date: 23-Jan-2013 14:38) Posted:
| Yes keep buying... but dont contra.... |
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Sometimes next week should well perform, I suppose.
think2profit ( Date: 24-Jan-2013 13:09) Posted:
Baosteel to hike prices 5% in March
15:15, January 23, 2013   
Baoshan Iron & Steel Co (Baosteel), China's largest steel maker by market value, said Tuesday that it would raise the prices of its major products in March by 100-300 yuan ($16.08-$48.24) per ton, or around 5 percent of its February price, due to increasing orders and rising costs.
The company just 10 days ago announced a February increase in booking prices for its major products by 80-160 yuan per ton, making March the fourth straight month Baosteel has raised its prices. The total increase over the past four months is 500-570 yuan per ton.
" The price hike reflects an optimistic outlook on steel demand in the first quarter," Wang Guoqing, director at the Beijing Lange Steel Information Research Center, told the Global Times.
Prices of Baosteel products are regarded as a bellwether for China's steel industry. Other major steel mills, such as Anshan Iron and Steel Group and Wuhan Iron and Steel Group, also raised their prices for February.
" More major steel makers are very likely to follow suit and raise their March prices," Hu Yanping, a senior analyst at industry portal custeel.com, told the Global Times Tuesday.
Hu noted that orders in the industry have been rising during the past two months, given demand from downstream users is increasing for spring, traditionally a high season for construction and the manufacturing sector.
" Most steel makers can sell out their products at present, since inventory has been kept at a low level," Hu said.
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Baosteel to hike prices 5% in March
15:15, January 23, 2013
Baoshan Iron & Steel Co (Baosteel), China's largest steel maker by market value, said Tuesday that it would raise the prices of its major products in March by 100-300 yuan ($16.08-$48.24) per ton, or around 5 percent of its February price, due to increasing orders and rising costs.
The company just 10 days ago announced a February increase in booking prices for its major products by 80-160 yuan per ton, making March the fourth straight month Baosteel has raised its prices. The total increase over the past four months is 500-570 yuan per ton.
" The price hike reflects an optimistic outlook on steel demand in the first quarter," Wang Guoqing, director at the Beijing Lange Steel Information Research Center, told the Global Times.
Prices of Baosteel products are regarded as a bellwether for China's steel industry. Other major steel mills, such as Anshan Iron and Steel Group and Wuhan Iron and Steel Group, also raised their prices for February.
" More major steel makers are very likely to follow suit and raise their March prices," Hu Yanping, a senior analyst at industry portal custeel.com, told the Global Times Tuesday.
Hu noted that orders in the industry have been rising during the past two months, given demand from downstream users is increasing for spring, traditionally a high season for construction and the manufacturing sector.
" Most steel makers can sell out their products at present, since inventory has been kept at a low level," Hu said.
Yes, I 'll do accordingly!
Isolator ( Date: 23-Jan-2013 14:38) Posted:
| Yes keep buying... but dont contra.... |
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Will add some more........
Have already sown the seeds....... the seedlings will definitely grow and propogate into a forest.
Isolator ( Date: 23-Jan-2013 14:38) Posted:
| Yes keep buying... but dont contra.... |
|
Yes keep buying... but dont contra....
Demand of various steel much much > > > > > > > > than the local supply, just keep buying sapphire, while the share price is at severe cheap level, despite any good or bad market news!!!
think2profit ( Date: 21-Jan-2013 21:20) Posted:
Sapphire's 3rd Qtr Performance was poor but it may have turned to black in Q4 2012 based on following article on profitabilty on china steel makers. Let's wait for result to be announced soon.
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http://www.chinadaily.com.cn/bizchina/2013-01/08/content_16093980.htm
China's 80 largest steel makers generated a profit of 3.28 billion yuan ($526.42 million) in November.
Statistics from the China Iron and Steel Association showed that major Chinese steel firms returned to reporting profits in November after bringing a four-month series of losses to an end a month earlier.
In the first 11 months of last year, the 80 major steel makers posted a loss of 1.97 billion yuan, Wang Qinghai, chairman of the association, said during a meeting on Saturday.
Chinese steel makers made meager profits in March, April and May and reported losses in the following months, only improving their performance in the fourth quarter.
Throughout 2012, Chinese steel makers' capital chain continued to worsen as financing costs increased, Wang said.
From January to November, members of the China Iron and Steel Association saw their revenue fall by 5.37 percent year-on-year, while their loans increased by 6.58 percent and their financial costs by 24.38 percent, Wang said.
" The asset-to-liability ratio of the member companies had increased by about 1.64 percentage points year-on-year to 68.67 percent by the end of November," Wang said.
Analysts said they expected the steel industry to extend its good performance into December, but were pessimistic the industry would report a profit for the whole year. |
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Sapphire's 3rd Qtr Performance was poor but it may have turned to black in Q4 2012 based on following article on profitabilty on china steel makers. Let's wait for result to be announced soon.
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http://www.chinadaily.com.cn/bizchina/2013-01/08/content_16093980.htm
China's 80 largest steel makers generated a profit of 3.28 billion yuan ($526.42 million) in November.
Statistics from the China
Iron and Steel Association showed that major Chinese steel firms returned to reporting profits in November after bringing a four-month series of lo
sses to an end a month earlier.
In the first 11 months of last year, the 80 major steel makers posted a loss of 1.97 billion yuan, Wang Qinghai, chairman of the association, said during a meeting on Saturday.
Chinese steel makers made meager profits in March, April and May and reported losses in the following months, only improving their performance in the fourth quarter.
Throughout 2012, Chinese steel makers' capital chain continued to worsen as financing costs increased, Wang said.
From January to November, members of the China Iron and Steel Association saw their revenue fall by 5.37 percent year-on-year, while their loans increased by 6.58 percent and their financial costs by 24.38 percent, Wang said.
" The asset-to-liability ratio of the member companies had increased by about 1.64 percentage points year-on-year to 68.67 percent by the end of November," Wang said.
Analysts said they expected the steel industry to extend its good performance into December, but were pessimistic the industry would report a profit for the whole year.
Yes, I do.
Isolator ( Date: 07-Jan-2013 14:54) Posted:
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Buy more today, will you? Tomorrow hopefully, it will have market positive buying sentiment, who knows! Ha. ha.. ha...
jack31 ( Date: 14-Jan-2013 23:03) Posted:
Hope it run!! I only hold 2 s-chip.
Sapphire and cm pacific! |
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Tomorrow, I 'll fix my decision.
think2profit ( Date: 14-Jan-2013 22:42) Posted:
Added some today. Shanghai Stock Exchange is in bull now and all the s-chips should run.
Hulumas ( Date: 14-Jan-2013 14:45) Posted:
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Buy? Hold? Sell? Which one is the most appropriate action?
think2profit ( Date: 20-Jan-2013 10:34) Posted:
As expected, steel price going up due to increased steel infrastructure projects in China and price of iron ore coming down due to supply increase by large miners. Sapphire will have a great run in 2013..!
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China Steel Corp (CSC, 中 鋼 ), the nation’s only integrated steelmaker, announced yesterday that it would raise prices of domestic products for March by an average of 3.08 percent.
The 3.08 percent price increase — greater than the 0.39 percent price increase announced last month for this month’s and next month’s contracts — marks the highest price increase by the company in more than a year. |
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Yes, It is on my radar now! Expected short term target of Sgd. 0.148 will not be excessive I think.
peripheral ( Date: 11-Jan-2013 22:10) Posted:
| Sapphire is up today during last hour. More potential for upside on monday? |
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Hi think2profit,
Where do you get the info where steel price had increased recently. The chart in
http://www.steelhome.cn/english/shpi/index.php does not says so.
Iron ore had dropped as it had rise too fast and steel price should follow iron ore price increase but it seems it is not at this time.
If steel price increase, how is 1% increase in steel price translate to profit for sapphire? If bottom line can be improved by acquiring 2 companies, why the seller wants to sell in first place? Hope you enlighten me.
As expected, steel price going up due to increased steel infrastructure projects in China and price of iron ore coming down due to supply increase by large miners. Sapphire will have a great run in 2013..!
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China Steel Corp (CSC, 中 鋼 ), the nation’s only integrated steelmaker, announced yesterday that it would raise prices of domestic products for March by an average of 3.08 percent.
The 3.08 percent price increase — greater than the 0.39 percent price increase announced last month for this month’s and next month’s contracts — marks the highest price increase by the company in more than a year.
Hope it run!! I only hold 2 s-chip.
Sapphire and cm pacific!
Added some today. Shanghai Stock Exchange is in bull now and all the s-chips should run.
Hulumas ( Date: 14-Jan-2013 14:45) Posted:
Yes, I think so too.
think2profit ( Date: 14-Jan-2013 10:38) Posted:
TA is strong and once it cross 13.5cts, next tgt shall be 17.5cts, to be sustained by price increase in steel moving forward since China is embarking on building 30million houses... |
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Yes, I think so too.
think2profit ( Date: 14-Jan-2013 10:38) Posted:
TA is strong and once it cross 13.5cts, next tgt shall be 17.5cts, to be sustained by price increase in steel moving forward since China is embarking on building 30million houses... |
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