In July of steel on the London exchange has risen by almost 10 %. this happened thanks to the revival in demand from automakers.
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The cost of futures contracts for steel on the London Metal Exchange for last month rose by almost 10% - from $ 390 to $ 425 per ton. Believe experts, this is mainly due to rise in price of flat-rolled products, which is used mainly in mechanical engineering. Thus, an increase the value of its rental by 10-15% already have the leading manufacturers in China, Japan, South Korea, the EU and the U.S.. Analysts also note that in the past time in the global steel market trends have changed, affecting the pricing. So, if last year prices have risen under the influence purchases of traders, but now metal becomes more expensive due to the fact that the revived demand from end of its consumers, particularly businesses auto industry. Recently steel traders prefer to keep minimum stocks in the warehouses of products. "Traders are now very cautious. They fear the possible fall prices for steel products in the fall and now prefer not to replenish stocks, and immediately resell the existing stocks "- says the analyst of investment of "Dragon Capital" Sergei Gajda. Demand for rental increases in Europe and China, the main buyer of this type of steel products, as flat-rolled products, in recent years are the manufacturers. In particular, main customers are companies today hire automotive industry that is beginning to show signs of life from the beginning of the crisis. Analysts noted that the July purchase of steel began to increase mainly manufacturers of passenger cars. "Now in China, U.S. and European Union have programs to stimulate demand for cars. This allows automakers to increase production in these countries, respectively, growing and consumption of flat products, "- explains the analyst of investment Astrum Investment Management Company Yury Ryzhkov. The Chinese are supported metallurgy Lately, the largest volume of purchases of flat products falls on the Chinese auto industry. Thus, the growth of new car sales in China the first half of 2009 amounted to 17 and 69% compared to the first half 2008. And just in China in January-June, has sold 6 million of new cars. This allowed the Chinese car market overtake the U.S. and come out on top in the world in the number of machines sold. Stabilize the demand for Car recently in European countries. In particular, increased by 40% June passenger car market in Germany. The growth of new car sales in France in June was 7 1% compared to last year's figures, Italy - 12, 4%. These World Steel Association
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