Comments on: Chinese Steel Price to Rise in Wake of Coal and Iron Price Hike http://www.dailyreckoning.com.au/chinese-steel/2008/05/07/ An independent perspective on the Australian and global investment markets Fri, 19 Mar 2010 00:22:59 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Kerry http://www.dailyreckoning.com.au/chinese-steel/2008/05/07/comment-page-1/#comment-24647 Kerry Thu, 29 May 2008 11:17:55 +0000 http://www.dailyreckoning.com.au/?p=2608#comment-24647 Some prices I'm seeing from China are about $800-900/t HRC FOB. As Alex pointed out exports are being limited. Some prices I'm seeing from China are about $800-900/t HRC FOB. As Alex pointed out exports are being limited.

]]> By: Alex Tam http://www.dailyreckoning.com.au/chinese-steel/2008/05/07/comment-page-1/#comment-21749 Alex Tam Thu, 08 May 2008 02:29:29 +0000 http://www.dailyreckoning.com.au/?p=2608#comment-21749 I don't think the Chinese gov't has subsidise the industry. As a matter of fact, they are pushing up export taxes to reduce exports overseas. And like POSCO of Korea, they are having a HRC steel price of around US$700/tonne. I don't think the Chinese gov't has subsidise the industry. As a matter of fact, they are pushing up export taxes to reduce exports overseas.

And like POSCO of Korea, they are having a HRC steel price of around US$700/tonne.

]]> By: Kev http://www.dailyreckoning.com.au/chinese-steel/2008/05/07/comment-page-1/#comment-21743 Kev Thu, 08 May 2008 01:04:27 +0000 http://www.dailyreckoning.com.au/?p=2608#comment-21743 And that, Dan, is why I insisted we bite the debt bullet a bite harder and buy a replacement fridge and dryer at the Christmas sales as the Old Faithfuls hit planned obsolescence with a vengeance. Those were the cheapest whitegoods we are likely to see again under any normal economic scenario. And under an abnormal economic scenario I will probably be too poor to buy what's on offer anyway. And on the macro-level - why is steel demand holding up ? Because folk are still massively building up the capital goods that make consumer goods, like mills, smelters, power stations and transport. As in the gem I found the other day that the Russians alone are now embarked on an emergency programme to add 41 GW of electricty generation within three years - and Chinese turbine and boiler manufacturers are the ONLY ones saying they have a hope of meeting these timetables. There's a lot of steel, copper and concrete in 41 GW of power stations. Roll on the supercycle. And that, Dan, is why I insisted we bite the debt bullet a bite harder and buy a replacement fridge and dryer at the Christmas sales as the Old Faithfuls hit planned obsolescence with a vengeance.

Those were the cheapest whitegoods we are likely to see again under any normal economic scenario. And under an abnormal economic scenario I will probably be too poor to buy what's on offer anyway.

And on the macro-level - why is steel demand holding up ? Because folk are still massively building up the capital goods that make consumer goods, like mills, smelters, power stations and transport.

As in the gem I found the other day that the Russians alone are now embarked on an emergency programme to add 41 GW of electricty generation within three years - and Chinese turbine and boiler manufacturers are the ONLY ones saying they have a hope of meeting these timetables. There's a lot of steel, copper and concrete in 41 GW of power stations. Roll on the supercycle.

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