The Olympic Effect on China’s Steel Industry: Rising Prices

Thursday, June 26, 2008 15:42

“The Chinese government, in ensuring clean air and blue skies for Olympic athletes and visitors, are requiring 43 steel mills in3 Tianjin City and Hebei to halt or slash production during the session of the Games,”

Malaysia Steel Works (KL) Bhd (Masteel) managing director Tai Hean Leng said in the article China’s Environ Policy May Fuel Steel Price Rise: Masteel

additionally he says:

Exports of heavy metal is being diverted to ports in the south like Lianyungang, logistics costs will go up, thereby adding to steel bar prices”

Are You Stocked Up For the Olympics? Have You Assessed Your Suppliers Yet? Booked Your Vessels Yet?

If nothing else, I would recommend buy steel forward to hedge your bets as it appears that the 43 mills have been given the order.

To read my previous posts on the impact of the Olympics, you can go to my previous posts by clicking the Olympics

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One Response to “The Olympic Effect on China’s Steel Industry: Rising Prices”

  1. Nrupesh says:

    June 27th, 2008 at 6:52 pm

    Very interesting article related to the increasing steel prices.