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Expensive fuel pushes deformed steel bar price up 

Coke and coal continue increasing amid the boom market. By the market closed yesterday, the price of coal rose 9.97%, coke gained 6.97%, and deformed steel bar up 5.98%, all reaching the daily limit.


Yesterday, coal 1701 contract was quoted at CNY1,516/mt, gained CNY137/mt (+9.93%). The price jumped 67.7% by CNY612/mt from the last two months (September 7). A representative of the National Development and Reform Commission told journalist that as railway transportation of coal have largely increased, so these days price increase bases on nothing, and the uptrend will not last for long, China Xinhua news agency reported.


It is said that China government has intervened, and intents to rectify the situation. The high coal and coke prices influence all walks of life. And as the fuel for metallurgy, it highly increased prices of steel products, such as steel rebar, cold rolled coil, cold rolled steel sheet etc. Many steel rebar suppliers complain on the higher cost brought by the expensive fuel.

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