Prices of Chinese rebars in Shanghai’s futures market stayed strong this week, but the rise in prices suffered a sudden bite from the unexpected 3.1% on-day drop on March 5, as jittery punters reacted to the volatility in global financial markets and Beijing’s rather cautious GDP target for this year.
China’s per capita gross domestic product averaged Yuan 72,447 ($11,190), or up 2% on year, confirming the country has been qualified as a well-off society, and it had also eliminated absolute poverty, as the living standard of all the poor people in the countryside exceeded the bottom line of Yuan 2,300/year, Mysteel Global noted from the latest release by the country’s National Bureau of Statistics (NBS).
China’s national price of zinc ingot (grading at least 99.995%) declined from a 22-month high of Yuan 22,364/tonne ($3,462/t) on February 22 to reach Yuan 21,640/t as of March 2, as the market responded to concerns about inflation and tightening monetary policies in the United States.
由于支持更高的原188体育滚球平台导航材料成本，中国镍猪铁（NPI）的中国价格在过去一周继续攀登。According to Mysteel’s database, the price of 8-15% grade NPI in East China’s Jiangsu province reached Yuan 1,210/mtu ($187/mtu) including the delivery and the 13% VAT as of March 2, gaining another Yuan 10/t from one week before.
Inner Mongolia in North China, now the country’s second-largest coal mining region after Shanxi in North China too and with the most competitive power charges, mulls blocking any new industrial projects including steel, coke, ferroalloys, non-ultra-high electrode graphite and aluminium starting 2021, aiming to rein in on the region’s power consumption mainly by such industrial plants, according to a draft by its Development and Reform Committee.