In the week ending October 9, Chinese steel market went up. Construction steel rose by 60-190 yuan per ton; medium plate price rose by 50-200 yuan per ton; HRC price rose by 40-190 yuan per ton; sections rose by 50-160 yuan per ton; structural steel rose by 80-210 yuan per ton; industrial wire price rose by 50-200 yuan per ton; 304 stainless steel rose by 300-1000 yuan per ton; 201 stainless steel soared by 700-900 yuan per ton; 430 stainless steel remained stable.

          In view of decreased supply and restocking, SteelHome predicts that Chinese common steel price will climb up by 50-100 yuan per ton; structural steel and industrial wire price will rise by 50-100 yuan per ton; 304 and 201 stainless steel will keep rising.

          About Fuels and Raw Materials: Just after National Day Holiday, big-scaled coalmines in China raised ex-mine prices of coking coal. Similarly, PCI and thermal coal were on the rise.

          The replenishments after National Day Holiday triggered iron ore prices. Billet price rose as well as some rolling mills in Tangshan gradually ramped up. However, the independent rolling mills in the city will conduct another 7-day production halts. Scrap became tight as EAF-based mills increased production after the holiday. Ferroalloy market was booming, because of the possible rise in electricity rate in the future.

--Steelhome