Wuhan Iron and Steel Group Fangchenggang project and Baosteel Group Zhanjiang project is about to be approved; April HSBC China services PMI rose from 53.3 in March to 54.1, the highest since October last year, a steady rise in costs. The major domestic ore price was 943.85 yuan / ton, down 1.6% from the previous week; Qingdao and Beilun steel to Hong Kong iron ore prices last week fell 10 yuan, respectively 1030/ ton and 1010 yuan / ton. Ore imports to Hong Kong than the previous week rose 20 thousand tons to 97 million 130 thousand tons; the BDI and BCI index rose by 0.17%, -2.07%; heavy scrap prices in Shanghai 2920 yuan / ton, compared with last week fell 10 yuan / ton.
National distribution of steel stocks fell for 11 consecutive weeks. As of 2012-05-04, the main city in the country long material and plate total inventory of 16 million 531 thousand and 500 tons, down 245 thousand and 600 tons last week, 11 consecutive weeks of steady decline; the long material inventory 9 million 358 thousand and 200 tons, 190 thousand and 700 tons lower than the previous week, while the sheet total inventory 7 million 173 thousand and 300 tons, 54 thousand and 900 tons lower than the previous week.
Steel prices this week, the policy is still to rise sharply, frequent adjustments. Building materials prices this week, in addition to individual steel mills have risen most of the rest of the following is mainly dominated, which is larger in East China, the maximum down 140 yuan / ton. Expected late market is still the following tune into the mainstream. Several major domestic mills have introduced a new plate price policy, compared with last week generally was the price of this week, the major steel prices have reduced May Day period, part of the East China second-line steel plate prices generally dropped 70 yuan / ton.