Macro Economy & Steel

Electricity Consumption
Railway Transportation
Aggregate Financing to Real Economy
Notes Payable Discount Rate
Exchange Rate
Steel PMI
Operation Rate of Steel Mills in Tangshan
CISA Crude Steel Output
Crude Steel Output by National Statistics Bureau (NSB)
Special Steel Output
Gross Proft of Major Steel Products
Steel Traders' Inventory in Major China Cities
Mn Industry
China Dry Bulk Import Freight
Mn Ore Vessels Line-up ex Tianjin Port
Mn Ore Import by Ports
Mn Ore Import by Origins
Port Stock of Imported Mn Ore_Mysteel
Port Stock of Imported Mn Ore_CNFEOL
2015SiMn Capacity & Production2015
2014SiMn Capacity & Production2014
HCFeMn Capacity & Production
EMM Capacity & Production
Steel Mill Mn Alloy Tender Price
Electricity Rate

reau (NSB)

CNFEOL
CNFEOL2530

Port stock data was all from port authorities as claimed by Mysteel. Part of the data CNFEOL use is from port
regularly. The biggest difference of both sources is in the data for Lianyungang Port. CNFEOL did not include

 Week

Date

Week1

1/16/2015

link

Week3

1/26/2015

link

Week3

1/27/2015

link

Week4

2/4/2015

link

Real Estate

Electricity Pricing Reform

Week1

Week5

1/16/2015

link

Week5

Environment
Week2

12/27/2014

link

Week4

2/4/2015

link

3/4/2015

link

Week5

Week6

Belt & Road Strategy and Infrastructure

Week3

1/27/2015

link

Week4

2/2/2015

link

Week4

2/5/2015

link

Week4

2/4/2015

link

 Monetary & Credit

Week3

1/29/2015

Week4

2/4/2015

link

Week4

2/2/2015

link

Week6

2/28/2015

link

3/5/2015

link

Steel

Week6

Market
Week4

2/2/2015

Week4

2/4/2015

Week4

2/5/2015

Week5

Week5

Week6

Week6

21(REITs)

5%
4.36%REITs7-8% REITs

120

20146
40%(20%)2015500040%
2000100
601006000610%
12

17158
73%21600
REITs()

Reform
201520170.14350.14330.14282014
0.1558118
8
25%

900-1100.150200110/30

57
4512
15600

trategy and Infrastructure

2015127

24 2014267.7(
)22.6%2014154.513.3%
57.7%77.747%66.8
34.2%24.9%25.861.8%8.313.3%

()23,14,15

t
201510
5%20%5%10%10.52015
()(
)

4420152014
20147669201336%2011
12

2015310.25
5.35%;0.252.5%
1.21.3;
1.3

()2245.299
8.69(55.12%)45.96
75%19.88%6
3000
3002485.364.2%48
1.16

(21 Centuary Business Herald) Ministry of Housing and Urban-Rural Development had published the guideline to enco
securitization of real estate via Real Estate Investment Trusts (REITs). It also allows the local government to rent or procu
commercial housing and change it to social housing. It's believed this will help to bring down the commercial housing inv
release the financing pressure of realty developers. But at the same time, there will be less new social housing construct
intend to follow the implementation of the policy and the influence on housing constructions

(Bloomberg) -- Chinas investment trusts are pulling financing for the real estate industry as Kaisa Group Holdings Ltd.
payments heighten default concerns.Issuance of property-related products, which channel money from wealthy individua
tumbled 62 percent from a year earlier to 38.5 billion yuan ($6.2 billion) in the fourth quarter, data compiled by research
Trust show, while builders must repay 241 billion yuan of trusts in 2015, up from 178 billion yuan last year.
A big portion of shadow bank funding, including trust financing, is borrowed by property developers, said David Cui,
strategist at Bank of America Corp. If there is a sharp rise of defaults by the developers, it may cause a shock to investo
confidence in shadow banking, which will raise risks of a credit crunch.

The number of publicly traded real estate firms with debt exceeding equity has increased to 135 out of 336 from 57 in 20
according to data compiled by Bloomberg.

Ministry of Housing encouraged purchase of commercial housing rather than building new houses by local governmen
town renovation projects, especially in cities with housing oversupply. This will help to destock about 60 million square m
commercial housing as calculated by analysts, but at the same time reduce construction of new social housings, hence s
products.

(National Business Daily) Shenzhen had started electricity pricing reform on January 1, 2015. 2015-2017 power transi
fixed at around RMB0.143 per kwh, over 1 RMB cent cheaper than 2014. Also, Xinhua News Agent reported that Inner Mo
power pricing reform had started on January 8, 2015. Inner Mongolia Power Co. Ltd. is the third largest power grid in Chin
Inner Mongolia grid is managed by the National Grid Group and Western Inner Mongolia grid is managed directly by Inne
Power Co., Ltd. As reported by media sources, about 25% of the electricity in Western Inner Mongolia was sold to large p
consumers directly, and not through the National Grid. There was also trial running of direct power sales to large consum
provinces, but the quota was just 2% of total power consumption in the area

(CEIT Shanxi) Shanxi Provice had published 2015 list of the first group of qualified producers that could purchase p
power station directly rather than from the National Grid. Among the 62 producers, 5 are ferroalloys plants. Shanxi Jinnen
Jinguang Ferroalloy Co., Ltd. and Jiaocheng Yiwang Ferroalloy Co., Ltd are the only two qualified manganese alloy produce
list. According to Yiwang, direct power purchase price is RMB0.05/kwh lower than the National Grid price and quota of dir
purchase Yiwang's got is about 35% of its estimated 2015 power consumption.

(National Grid)Gansu Province also published 2015 direct power transaction details. But no price information availa
alloy producers in Gansu are allocated quota for direct power purchase. List of the alloy producers are attached (in Chine
According to some reports, 2014 direct power purchase price was RMB0.03/kwh lower than National Grid price.

The State Council published the guideline on bringing in third independent party to treat environmental pollutions. NDR
of Finance, Ministry of Environment & Ministry of Housing & Urban-Rural Development were asked to foster the implemen
together. The guideline also urged to raise pollutant discharge fees and apply tiered pricing for power and water basing o
companies' environmental performances. The influences on steel and alloy producers need to be observed.

(Securities Daily) New environmental protection law had been in effect for over a month, but few steel mills were repo
punished for failing to meet the pollutants discharge standards. Its reported over 70% of steel mills in China could not m
new standards. According to calculations done by research institutes, to meet the new standards, an extra investment of
110bn is needed to update the facilities of all steel mills, and average environmental cost will be RMB150 to 200 per ton
steel mills are spending only RMB30/t under favouritism of local governments.

(MIIT) Ministry of Industry and Information Technology (MIIT) that is soliciting public opinions during 10 Feburary to
on the 2015 version Ferroalloy Industry Admission Standards (draft). According to the draft, newly built SiMn and FeMn p
only install fully-closed submerged arc furnaces with capacity above 25000kva ; newly built EMM plant capacity should b
than 30,000mt per year and capacity of each production line should be no lower than 10,000mt per year. For more criter
consumption and pullutant discharge, please refer to the full version of the draft attached (in Chinese only).

(Futures Daily) 57 companies in Linyi City, Shandong Province were ordered to suspend production for rectification as t
to meet environmental standards. The 15 furnaces of all steel mills were shut down. It's reported the capacity of these st
was 6 milltion tons. The term of the shut-down is not known yet.

(Yahoo) China and the African Union agreed Tuesday on an ambitious plan to develop road, rail and air transport routes
capitals across the continent. AU Commission chairwoman Nkosazana Dlamini-Zuma praised the proposal as "the most s
project the AU has ever signed with a partner", although the ambitious project that includes highways and high speed ra
present just a commitment to develop the infrastructure, and contains few details.

(China Daily)Mexico's government has cut its 2015 budget by nearly 3 percent after a drop in global prices hurt public fi
and it is shelving a tainted $3.75 billion high-speed train tender as part of its austerity measures.Minister of Finance Luis
announced the decision on Friday, and the pinch will be felt with the high-speed train project.Videgaray cited plummeting
as one of the main reasons behind the 2015 budget cut of $8.42 billion.

(China Daily) China exported 26.77 billion yuan ($4.36 billion) worth of railway equipment last year, surging 22.6 perce
year, according to data from the General Administration of Customs (GAC).According to German transportation consultan
Verkehr, China North Railway and China South Railway, two industry leaders, currently hold the lion's share of the world's
market, with their sales revenue equal to the other five top companies combined. China will lift sluggish exports by prom
nuclear power and surplus products in overseas markets after trade growth fell short of its target last year.

(China Stock)14 provinces had published their 2015 key projects investment plan by 3 February. Total investment is est
be RMB15 trillion. Given the slowing fiscal income growth and increasing local government debt, funding had become the
concern. Most local governments are placing hope in participation of private capital (Public Private Partnership model), bu
implementation of the PPP model still need to be watched.

21CBH - As estimated by research institutes, China 2015 bank loans will be RMB10 to 10.5 trillion, with a 5 to 10 YoY gro
estimated by analyst from China International Capital Corporation (CICC), loans of big state owned banks will remain flat
control concerns and there will be a 5 to 20% loan increase by small and medium size banks. As agreed by researchers f
seceurities firms, the majority of the loans will be channeled to large construction projects (projects related to "One Belt
Road", Yangtze River Economic Zone, and infrastructure) & consumption related projects (tourism, culture, communicatio
logistics etc).

(Xinhua) -- China's central bank on Wednesday decided to lower the reserve requirement ratio (RRR), the minimum leve
banks must hold, by 50 basis points from February 5, 2015. The People's Bank of China (PBOC) also increased support to
target areas, cutting the RRR by an extra 50 basis points for certain commercial banks engaged in proportionate lending
firms, the farming sector and major water projects, said the central bank's statement.The Agricultural Development Bank
the sole policy lender for agriculture, gets an RRR reduction of 4 percentage points.

(PwC) A PwC survey of 44 banks and financial institutions reflected that throughout 2014, the quality of credit assets h
Chinese banks showed signs of sharp deterioration. The total balance of non-performing loans (NPLs) across the entire b
industry hit RMB766.9billion (USD123.9bn) by the end of the third quarter, up 36% YoY, the sharpest rise recorded since
Respondents held widely diverging views on the severity of the NPL situation. Most foreign banks gave a negative progno
overall effects of rising bad debts, but believed a focus on top-tier borrowers would insulate them. Domestic banks also t
acknowledged the problem, but showed confidence that the government will again mop up excess problem loans using C
asset management companies (AMCs).

China's Central Bank cut 25 bp of prime interest rate and at the same time enlarged floating ceiling of deposit intere
1.3 times of prime interest rate from the previous 1.2, effective from March 1st. It's said the purpose is to bring down loa
to maintain and attract deposits, some banks lifted the deposit interest rate up to the ceiling level. And it's believed the n
spread between deposit and loan interest rate would further weaken banks' intention to expand credit lines.

(China Daily) The decision by the nation's largest private steelmaker, Shagang Group, to sell 55.1 percent of the sha
Shenzhen-listed unit Jiangsu Shagang Group Co Ltd, was intended to raise funds for diversification beyond steel, analysts
According to Shagang's announcement, it has signed agreements with nine parties to sell the shares at 5.29 yuan (86 ce
share. After the transaction, Shagang Group will hold a 19.88 percent stake in the listed company, down from 75 percent
The parent company said it may reduce its stake further in the coming six months. Shagang will gain about 4.6 billion yu
transaction. Analysts speculated that the funds will be used in the group's e-commerce platform, logistics service and mi
company.

(Metal Pages)-Chinas imports of manganese ore and concentrate were down 2.36pc to 16,216,424t in 2014 against 20
according to official customs data. Import costs were $2,720,696,807, down 14.76pc from the same period in 2013.

(Metal Pages)-Chinese manganese prices have been rangebound amid thin buying in the past few days, and some key
steelmakers have cancelled monthly tenders for manganese.Lianzhong Stainless Steel and Guangxi Chengde Group has
their monthly purchases for February requirements due to equipment maintenance. Wuhang Stainless Steel has cut its te
volume by a third to 2,000t owing to their adequate stocks and slow consumption of stainless steel.

(CNFEOL) - Guizhou lowered electricity rate for power intensive industries from RMB0.55/kwh to RMB0.5 to 0.53/kw
cost will be RMB80 to 200/t basing on average power consumption of 4,000kwh for each ton of SiMn produced.

(Metal Pages) Chinese mills cut silico-manganese purchase prices for February. Hebei Steel Mill's price is 100 yuan lo
January, and will purchase 27,000 tonnes. Tisco's price is 100 yuan lower than January, for 6,000 tonnes. Ma'anshan Stee
price is 150 yuan lower than January, for 6,000 tonnes.Some silico-manganese factories in South China are cutting their
the spring festival, which starts next week. They hope that will help to prevent the price of silico-manganese falling furth
analyst said.

(Metal Pages) The Chinese manganese market has been quiet this week as most consumers have completed their p
before the Chinese New Year (18-24 February).Some small producers have halted production, but major producers will ke
producing at low capacity during the holiday. The export market remains quiet, and producers have stopped offering pric
material delivered before the end of February due to the New Year holiday.

(Metal Pages) Hebei Iron and Steel Group (HBIS), the largest steelmaker in China, has issued its ferro-alloys tender p
delivery in March. The company lowered its prices once again in line with tepid consumer demand. Although HBIS lowere
alloys tender prices in March, suppliers are still willing to deliver material as they have ample stocks and demand is tepid
spot market. Most other steelmakers will make a similar move.The tender price for silico-manganese 65/17 grade is down
and the tender volume is 24,720t. The tender price for high carbon ferro-manganese 65C7.0 grade is lowered by RMB50/
(Metal Pages) The manganese flake market has been stable since the end of the New Year holiday on 24 February. D
steelmaker intends to buy 3,640t. The tender price for medium carbon ferro-manganese 78C2.0 grade is cut by RMB100
been sidelined and market sentiment is cautious against a weakening domestic steel market. In China, market flake price
tender volume is 1,100t. The tender price for medium carbon ferro-manganese 78C1.5 grade is down RMB50/t, and the t
enough to trouble profit margins. There has been persistent oversupply of manganese flake in China for many months. M
volume is 1,260t.
flake producers in China are often the major employer in their respective areas and so there are social and political conse
they cut or shut production.

China Mn Ore Imports by Country (mt)

Source: GTIS
Partner Country

Jan-15

World

Feb-15

Mar-15

Apr-15

May-15

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

2015

1,506,265

941,426

2,447,691

South Africa

618,595

320,379

938,974

Australia

411,798

183,428

595,226

Brazil

187,459

229,266

416,725

Gabon

215,282

73,866

289,148

Malaysia

17,784

74,788

92,572

Cote d Ivoire

28,562

40,471

69,033

Morocco

5,170

9,423

14,593

Namibia

6,319

1,001

7,320

Myanmar

6,375

220

6,595

Turkey

1,025

5,401

6,426

Oman

4,924

4,924

Zambia

1,418

1,826

3,244

1,335

1,000
554

0
22

Senegal
Kenya
Others

1,335
0

1,000
576

China Ore Imports and Port Inventories

Crude Steel Output

(mln mt)

Sep

1,035,000

583,546

Oct

1,035,000

419,646

419,646

583,546

1.8

Nov

1,035,000

861,028

861,028

501,596

2.1

Dec

1,305,000

733,433

270,000

463,433

621,407

2.1

Jan

1,305,000

420,521

420,521

581,913

2.2

41.18

Feb

1,305,000

660,907

660,907

549,635

2.4

38.53

Mar

1,200,000

712,149

-105,000

817,149

568,180

2.1

45.25

Apr

1,200,000

716,138

716,138

607,114

2.0

45.19

May

1,200,000

636,097

636,097

656,529

1.8

46.20

Jun

1,270,000

712,667

70,000

642,667

619,041

2.1

46.63

Jul

1,270,000

906,680

906,680

648,913

2.0

45.02

Aug

1,270,000

605,484

605,484

729,940

1.7

42.90

Sep

1,740,000

664,147

470,000

194,147

720,703

2.4

39.39

Oct

1,740,000

611,703

611,703

616,869

2.8

36.33

Nov

1,740,000

437,864

437,864

599,463

2.9

34.41

Dec

1,810,000

496,748

70,000

426,748

566,424

3.2

37.79

Jan

1,540,000

334,465

-270,000

604,465

530,438

2.9

40.94

Feb

1,396,000

297,629

-144,000

441,629

480,069

2.9

41.11

Mar

1,375,000

383,938

-21,000

404,938

452,759

3.0

44.88

Apr

1,450,000

713,151

75,000

638,151

487,891

3.0

43.62

May

1,510,000

617,146

60,000

557,146

492,299

3.1

46.53

Jun

1,290,000

709,605

-220,000

929,605

512,180

2.5

49.31

Jul

1,350,000

959,577

60,000

899,577

595,989

2.3

50.64

Aug

1,570,000

1,122,295

220,000

902,295

645,174

2.4

52.23

Sep

1,530,000

1,085,564

-40,000

1,125,564

721,952

2.1

50.96

Oct

1,760,000

1,028,253

230,000

798,253

842,056

2.1

52.30

Nov

1,900,000

1,079,277

140,000

939,277

868,740

2.2

47.86

Dec

1,980,000

1,284,099

80,000

1,204,099

932,429

2.1

48.49

Jan

1,970,000

955,068

-10,000

965,068

978,178

2.0

51.84

Feb

1,930,000

917,199

-40,000

957,199

989,093

2.0

49.52

Mar

1,780,000

960,797

-150,000

1,110,797

998,243

1.8

54.52

Apr

1,910,000

1,124,892

130,000

994,892

995,782

1.9

55.14

May

2,180,000

1,140,211

270,000

870,211

1,028,555

2.1

55.88

Jun

2,470,000

953,483

290,000

663,483

1,017,044

2.4

53.57

Jul

2,600,000

1,056,449

130,000

926,449

926,942

2.8

51.74

Aug

2,650,000

776,910

50,000

726,910

920,505

2.9

51.64

Sep

2,760,000

754,920

110,000

644,920

882,124

3.1

47.95

Oct

2,680,000

741,423

-80,000

821,423

804,478

3.3

50.30

Nov

2,940,000

1,054,985

260,000

794,985

775,566

3.8

50.17

Dec

3,290,000

1,161,197

350,000

811,197

763,028

4.3

51.52

Jan

3,420,000

1,152,237

130,000

1,022,237

787,647

4.3

59.87

Feb

3,640,000

781,574

220,000

561,574

803,612

4.5

54.31

Mar

3,750,000

1,098,901

110,000

988,901

776,056

4.8

59.42

Apr

3,880,000

1,132,768

130,000

1,002,768

833,386

4.7

59.03

May

3,950,000

1,307,002

70,000

1,237,002

863,610

4.6

60.25

Jun

3,970,000

1,021,320

20,000

1,001,320

937,280

4.2

59.93

Jul

3,850,000

1,024,900

-120,000

1,144,900

968,967

4.0

59.30

Aug

3,910,000

1,256,504

60,000

1,196,504

989,411

4.0

58.75

Sep

3,800,000

1,311,174

-110,000

1,421,174

1,095,233

3.5

56.70

Oct

3,890,000

727,144

90,000

637,144

1,167,278

3.3

54.67

Nov

3,710,000

1,252,074

-180,000

1,432,074

1,106,341

3.4

49.88

Dec

3,770,000

918,455

60,000

858,455

1,138,853

3.3

52.16

Jan

3,510,000

683,697

-260,000

943,697

1,115,042

3.1

56.73

Feb

3,290,000

1,223,872

-220,000

1,443,872

1,081,508

3.0

55.88

Mar

3,299,000

992,036

9,000

983,036

1,122,736

2.9

61.58

Apr

2,970,000

871,677

-329,000

1,200,677

1,049,713

2.8

60.58

May

2,780,000

1,121,759

-190,000

1,311,759

1,143,635

2.4

61.23

Jun

2,777,000

963,954

-3,000

966,954

1,123,583

2.5

60.21

Jul

2,747,000

1,018,057

-30,000

1,048,057

1,141,666

2.4

61.69

Aug

2,606,000

1,198,163

-141,000

1,339,163

1,159,059

2.2

58.70

Sep

2,507,667

1,145,913

-98,333

1,244,246

1,141,608

2.2

57.95

Oct

2,378,667

948,807

-129,000

1,077,807

1,185,143

2.0

59.10

Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb

2,352,333
2,427,333
2,382,000
2,499,000
2,527,667
2,387,167
2,582,153
2,636,000
2,618,667
2,400,000
2,454,250
2,551,000
2,803,250
2,658,000
2,754,750
3,034,400
3,178,500
3,137,500
3,178,800
3,299,400
3,218,850
3,203,950
3,178,000
3,351,000
3,397,000
3,436,000
3,457,000
3,505,000

1,067,348
1,145,196
1,359,868
930,715
1,390,401
1,038,808
1,471,826
1,190,282
1,344,952
1,302,621
1,414,799
1,952,279
1,499,888
1,733,245
1,537,576
1,122,419
1,236,614
1,220,837
1,352,959
1,420,658
1,523,149
1,449,247
1,553,744
1,346,239
1,131,182
1,339,310
1,506,265
941,426

-26,334
75,000
-45,333
117,000
28,667
-140,500
194,986
53,847
-17,333
-218,667
54,250
96,750
252,250
-145,250
96,750
279,650
144,100
-41,000
41,300
120,600
-80,550
-14,900
-25,950
173,000
46,000
39,000
21,000
48,000

1,093,682
1,070,196
1,405,201
813,715
1,361,734
1,179,308
1,276,840
1,136,435
1,362,285
1,521,288
1,360,549
1,855,529
1,247,638
1,878,495
1,440,826
842,769
1,092,514
1,261,837
1,311,659
1,300,058
1,603,699
1,464,147
1,579,694
1,173,239
1,085,182
1,300,310
1,485,265
893,426

1,164,664
1,128,318
1,145,525
1,205,049
1,117,475
1,137,056
1,153,973
1,184,499
1,195,539
1,188,386
1,306,315
1,306,117
1,418,821
1,413,954
1,537,631
1,550,721
1,437,634
1,392,962
1,294,013
1,304,683
1,208,277
1,235,423
1,338,986
1,420,182
1,405,416
1,367,670
1,367,712
1,347,973

2.0
2.2
2.1
2.1
2.3
2.1
2.2
2.2
2.2
2.0
1.9
2.0
2.0
1.9
1.8
2.0
2.2
2.3
2.5
2.5
2.7
2.6
2.4
2.4
2.4
2.5
2.5
2.6

57.47
57.66
66.79
61.83
68.71
67.42
68.68
64.66
65.47
66.28
65.42
65.08
60.88
62.35
68.73
62.08
70.24
68.84
70.43
69.29
68.32
68.91
67.54
67.52
63.30
68.09
65.50
65.03

Inventory change (mt)

600,000

3,500,000

500,000

70

3,000,000

400,000

65

2,500,000

300,000

2,000,000

60
55

200,000

50

100,000

45

2008

2009

2010

2011

2012

Port inv. expressed as # of months based on apparent consumption (RHS)

Source: Mysteel, IMnI

2013

2014

2015

Port inventory (LHS)

-400,000
2008
Source: Mysteel, IMnI

2008
2009

2010

2011

2012

2013

2014

2015
Source: World Steel Association

2009

2010

Feb

Dec

Jun

2014

Oct

Apr

Aug

Feb

Dec

Jun

2013

Oct

Apr

Aug

Feb

Dec

Jun

2012

Oct

Apr

Aug

Feb

Dec

Jun

2011

Oct

Apr

30

-300,000

Aug

35

-200,000

Feb

Dec

40

Jun

Oct

500,000

-100,000

Apr

Aug

1,000,000

Feb

1,500,000

Crude Steel Output (mln mt)

75

Dec

Jun

Chinese Port Inventory as 'months of Reserve Stock'

Oct

4,000,000

583,546

Apr

2015

6 month moving
average

Aug

2014

6 month moving
average

Feb

2013

Deduced apparent
imported ore
consumption

Dec

2012

Inventory change

Jun

2011

Ore Imports

Oct

2010

Port inv. expressed

as # of months
based on apparent
consumption (RHS)

Apr

2009

Deduced apparent
imported ore
consumption

Aug

2008

A-B

Feb
Apr
Jun
Aug
Oct
Dec
Feb
Apr
Jun
Aug
Oct
Dec
Feb
Apr
Jun
Aug
Oct
Dec
Feb
Apr
Jun
Aug
Oct
Dec
Feb
Apr
Jun
Aug
Oct
Dec
Feb
Apr
Jun
Aug
Oct
Dec
Feb
Apr
Jun
Aug
Oct
Dec
Feb

2007

Feb

Port inventory (LHS)

2015

2015 2015 Mn Ore Vessels Line-up ex Tianjin Port

Cargo

Origin/Counter Party

ETA

Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
, Mn Ore &Iron Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
Mn Ore
, Mn Ore &Iron Ore

S.Africa
S.Africa
Australia
S.Africa
Gabon
S.Africa
S.Africa
Australia
Singapore
Brazil
Korea
S.Africa
Argentina
Malaysia
Malaysia
S.Africa
S.Africa
Australia
Brazil

2014.12.4
2014.12.26
2014.12.31
2015.1.2
2015.1.2
2015.1.4
2015.1.4
2015.1.6
2015.1.7
2015.1.8
2015.1.9
2015.1.9
2015.1.11
2015.1.12
2015.1.13
2015.1.14
2015.1.15
2015.1.16
2015.1.19

Frontpage

n Port
Discharge

ETD

2014.12.7
2014.12.27
2015.1.4
2015.1.8
2015.1.2
2015.1.4
2015.1.7
2015.1.6
2015.1.8

2014.12.7
2014.12.29
2015.1.5
2015.1.10
2015.1.4
2015.1.5
2015.1.7
2015.1.6
2015.1.10

2015.1.9
2015.1.10
2015.1.13

2015.1.11
2015.1.12
2015.1.13

2015.1.14
2015.1.14

Warehouse
Receipt Weight(mt)
16,200
30,139
48,600
80,428
38,145
5,400
16,200
47,600
30,086
101,034
21,600
54,640
44,000
16,000
15,000
54,025
25,500
16,103
147,450

:Remarks

Origin to be confirmed
Including Mn ore & Iron Ore
Origin to be confirmed
Origin to be confirmed

Including Mn ore & Iron Ore

(000 mt)
Month/
01/07/08
01/08/08
01/09/08
01/10/08
01/11/08
01/12/08
01/01/09
01/02/09
01/03/09
01/04/09
01/05/09
01/06/09
01/07/09
01/08/09
01/09/09
01/10/09
01/11/09
01/12/09
01/01/10
01/02/10
01/03/10
01/04/10
01/05/10
01/06/10
01/07/10
01/08/10
01/09/10
01/10/10
01/11/10
01/12/10
01/01/11
01/02/11
01/03/11
01/04/11
01/05/11
01/06/11
01/07/11
01/08/11
01/09/11
01/10/11
01/11/11
01/12/11
01/01/12
01/02/12
01/03/12

China Mn Ore Por

Tianjin/
500
500
500
600
600
600
550
580
570
600
650
420
440
580
600
550
600
600
650
660
650
700
900
1,000
1,100
1,200
1,350
1,370
1,300
1,500
1,580
1,700
1,720
1,730
1,700
1,680
1,500
1,450
1,300
1,450
1,400
1,380
1,300
1,200
1,295

Lianyungang/
100
100
100
100
100
100
80
90
69
130
120
150
120
100
70
100
110
130
130
140
100
110
160
180
190
200
170
150
120
170
160
170
180
200
190
200
250
250
210
280
270
400
460
420
385

01/04/12
01/05/12
01/06/12
01/07/12
01/08/12
01/09/12
01/10/12
01/11/12
01/12/12
01/01/13
01/02/13
01/03/13
01/04/13
01/05/13
01/06/13
01/07/13
01/08/13
01/09/13
01/10/13
01/11/13
01/12/13
01/01/14
01/02/14
01/03/14
01/04/14
01/05/14
01/06/14
01/07/14
01/08/14
01/09/14
01/10/14
01/11/14
01/12/14
16/01/15
23/01/15
06/02/15
13/02/15
28/02/15
06/03/15
13/03/15

1,265
1,260
1,227
1,239
1,210
1,120
1,111
1,147
1,123
1,090
1,160
1,110
1,141
1,315
1,396
1,473
1,375
1,440
1,447
1,563
1,480
1,530
1,600
1,688
1,625
1,645
1,790
1,795
1,860
1,830
1,920
1,960
2,000
1,970
1,950
1,960
1,970
2,000
2,030
2,040

360
295
250
270
297
307
317
297
277
250
220
197
136
125
126
130
130
105
200
233
268
325
365
240
365
370
325
330
290
275
430
450
440
450
450
470
480
480
470
480

China Mn Ore Port Stocks/

Quinzhou/
Fangcheng/
250
170
250
170
250
170
230
100
230
100
230
100
200
40
160
40
180
30
300
110
310
130
320
70
340
100
450
150
500
120
600
190
700
100
700
150
730
130
710
140
650
150
650
180
670
170
690
230
700
260
690
230
650
210
750
130
1,000
130
1,100
140
1,110
130
1,100
180
1,230
170
1,350
180
1,400
200
1,250
300
1,250
250
1,270
300
1,340
350
1,250
370
1,200
330
1,180
350
960
350
860
380
840
350

Beihai/
300
300
300
200
200
200
200
150
100
100
100
100
150
100
100
200
150
110
100
110
90
100
90
150
110
100
100
80
120
80
90
100
70
70
80
120
150
160
200
180
200
160
130
140
109

725
675
737
771
710
732
651
700
783
753
825
973
875
881
820
827
705
755
693
803
805
800
965
1,123
1,020
1,065
1,040
990
925
970
910
910
950
970
980
1,020
1,040
1,060
1,050
1,030

245
195
221
163
160
107
117
75
71
79
79
47
20
38
13
11
21
10
35
45
28
31
59
45
34
26
72
38
59
48
32
38
24
36
32
28
29
26
24
26

95
105
136
120
88
103
90
73
86
73
70
69
47
52
44
39
39
36
37
42
38
49
42
79
64
55
54
52
49
37
17
15
16
19
15
14
9
17
13
19

China Mn Ore Port Stocks/

Zhanjiang/
Beihai/
Fangcheng/
Lianyungang/

China Mn Ore Port Stocks/

Zhanjiang/
Beihai/
Fangcheng/
Lianyungang/
Quinzhou/
Tianjin/

(in '000 mt)

Source: Mysteel

Zhanjiang/
400
400
400
560
560
560
450
360
410
185
200
210
200
150
110
120
120
250
200
150
140
170
190
220
240
230
280
200
270
300
350
390
380
350
380
420
450
480
400
360
310
300
310
290
320

Total Port Stocks/

1,720
1,720
1,720
1,790
1,790
1,790
1,520
1,380
1,359
1,425
1,510
1,270
1,350
1,530
1,500
1,760
1,780
1,940
1,940
1,910
1,780
1,910
2,180
2,470
2,600
2,650
2,760
2,680
2,940
3,290
3,420
3,640
3,750
3,880
3,950
3,970
3,850
3,910
3,800
3,890
3,710
3,770
3,510
3,290
3,299

280
250
200
185
141
140
93
61
87
137
145
132
169
171
237
138
131
108
139
118
40
20
3
5
29
17
19
14
21
18
42
24
6
12
16
13
12
12
12
7

2,970
2,780
2,770
2,747
2,606
2,508
2,379
2,352
2,427
2,382
2,499
2,528
2,387
2,582
2,636
2,619
2,400
2,454
2,551
2,803
2,658
2,755
3,034
3,179
3,138
3,179
3,299
3,219
3,204
3,178
3,351
3,397
3,436
3,457
3,443
3,505
3,540
3,595
3,599
3,602

ort Stocks/ 2008-2015

4000
3500

ort Stocks/ 2008-2015

4000
3500
3000
2500
2000
1500
1000
500
0

 Unit: 000mt
Date

Lianyungang

Tianjin

Zhanjiang

Friday, December 26, 2014

30

1990

Friday, January 16, 2015

25

1980

Friday, January 23, 2015

25
10
10
10
14
20
35

1970
2040
1930
1960
1960
2000
2030

30
0
0
30
31
31
31

Friday, January 30, 2015

Friday, February 06, 2015
Friday, February 13, 2015
Saturday, February 28, 2015
Friday, March 06, 2015
Friday, March 13, 2015

 Fangcheng

Qinzhou

Beihai

Total

25

970

27.8

3042.8

60

910

22

2997

62
55
50
50
50
45
41

830
800
750
860
860
950
950

22
29.8
29.8
29.8
29.8
29.8
29.8

2939
2934.8
2769.8
2939.8
2944.8
3075.8
3116.8

 Regions

Month

Number of
Smelters
Surveyed

Number of
Smelters in
Operation

Annual
Capacity

30
Monthly Capaciy
(30 day basis)

Ningxia

Jan

34

22

2,664,000

222,000

Inner Mongolia

Jan

30

15

2,352,000

196,000

Hunan

Jan

73

1,843,200

153,600

Yunnan

Jan

35

2,292,000

191,000

Guangxi

Jan

74

16

3,552,000

296,000

Guizhou

Jan

41

2,458,800

204,900

Shanxi

Jan

14

819,000

68,250

Gansu

Jan

14

2,486,400

207,200

Sichuan

Jan

14

552,000

46,000

Northeast

Jan

14

780,000

65,000

Xinjiang

Jan

396,000

33,000

Henan

Jan

17

703,200

58,600

Chongqing

Jan

Total/Avrg

10

420,000

35,000

377

95

21,318,600

1,776,550

Ningxia

Feb

34

20

2,664,000

222,000

Inner Mongolia

Feb

30

14

2,352,000

196,000

Hunan

Feb

74

1,891,200

157,600

Yunnan

Feb

35

2,292,000

191,000

Guangxi

Feb

74

13

3,552,000

296,000

Guizhou

Feb

41

2,458,800

204,900

Shanxi

Feb

14

819,000

68,250

Gansu

Feb

14

2,486,400

207,200

Sichuan

Feb

14

552,000

46,000

Northeast

Feb

14

780,000

65,000

Xinjiang

Feb

396,000

33,000

Henan

Feb

17

703,200

58,600

Chongqing

Feb

10

420,000

35,000

378

79

21,366,600

1,780,550

Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Sichuan
Northeast
Xinjiang
Henan
Chongqing
Najor Region Total/Avrg
Ningxia

Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Sichuan
Northeast
Xinjiang
Henan
Chongqing
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Sichuan
Northeast
Xinjiang
Henan
Chongqing
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Sichuan
Northeast
Xinjiang
Henan
Chongqing
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou

Shanxi
Gansu
Sichuan
Northeast
Xinjiang
Henan
Chongqing
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Sichuan
Northeast
Xinjiang
Henan
Chongqing
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Sichuan
Northeast
Xinjiang
Henan
Chongqing
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Sichuan
Northeast
Xinjiang

Henan
Chongqing
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Northeast
Xinjiang
Henan
Chongqing
Sichuan
Najor Region Total/Avrg
Ningxia
Inner Mongolia
Hunan
Yunnan
Guangxi
Guizhou
Shanxi
Gansu
Northeast
Xinjiang
Henan
Chongqing
Sichuan
Najor Region Total/Avrg


Deduced Daily
Capacity

Daily
Output

Monthly Output

Cap
Utilization Ratio

2014 2014 Output

YoY Change

7,400

3,530

109,430

47.7%

136,400

-20%

6,533

3,253

100,843

49.8%

120,900

-17%

5,120

370

11,470

7.2%

17,825

-36%

6,367

280

8,680

4.4%

25,110

-65%

9,867

2,225

68,975

22.6%

86,831

-21%

6,830

750

23,250

11.0%

65,565

-65%

2,275

930

28,830

40.9%

27,435

5%

6,907

615

19,065

8.9%

30,845

-38%

1,533

150

4,650

9.8%

4,960

-6%

2,167

700

21,700

32.3%

26,505

-18%

1,100

240

7,440

21.8%

16,740

-56%

1,953

640

19,840

32.8%

32,550

-39%

1,167

115

3,565

9.9%

8,060

-56%

59,218

13,798

427,738

23.3%

599,726

-29%

7,400

3,250

91,000

43.9%

103,880

-12%

6,533

3,193

89,404

48.9%

102,480

-13%

5,253

130

3,640

2.5%

11,200

-68%

6,367

280

7,840

4.4%

22,680

-65%

9,867

1,990

55,720

20.2%

60,760

-8%

6,830

520

14,560

7.6%

46,060

-68%

2,275

1,030

28,840

45.3%

24,780

16%

6,907

615

17,220

8.9%

25,200

-32%

1,533

150

4,200

9.8%

4,480

-6%

2,167

700

19,600

32.3%

23,940

-18%

1,100

240

6,720

21.8%

8,400

-20%

1,953

500

14,000

25.6%

23,520

-40%

1,167

115

3,565

9.9%

8,060

-56%

59,352

12,713

356,309

21.4%

465,440
115,010
88,040
11,470
25,110
61,380
50,995
29,295
27,435
4,960
26,505
11,160
24,955
620
114,450

-23%

74,490
9,600
24,300
59,400
43,680
30,750
26,550
6,000
25,650
10,800
24,600
600

123,225
76,973
14,570
26,040
42,315
41,850
30,380
20,925
8,680
20,460
11,160
23,560
4,650
122,850
87,690
15,900
59,100
47,400
61,800
29,400
20,250
11,400
19,800
12,600
32,700
4,500
131,285
112,933
17,050
61,070
80,600
69,440

30,380
20,925
11,780
20,460
17,670
33,790
3,720
131,285
112,933
16,120
61,845
106,640
79,918
27,900
24,645
14,880
23,560
21,390
28,520
3,720

118,200
113,790
16,500
45,750
106,800
80,640
27,900
23,850
15,450
19,800
20,700
27,000
3,450
120,900
109,120
15,500
30,070
93,000
85,188
26,970
24,645
14,880
17,980
13,020

24,800
3,565
121,500
102,090
N/A
29,100
67,200
31,200
27,900
18,450
12,600
21,000
12,600
24,600
3,450
125,550
105,493
N/A
15,190
69,440
32,240
28,830
20,615
13,020
21,700
13,020
25,420
3,565

2014 SiMn Capacity Utilization Ratio

Source:China Ferroalloy Online

Regions

2013 2013
Output

2014 2014
Number Number of
Month
of Smelters
Smelters
in Operation
Surveyed

Ningxia

32

Inner Mongolia

26

Hunan

73

Yunnan

36

Guangxi

78

Guizhou

51

Shanxi

14

Gansu

12

Sichuan

13

Northeast

13

Xinjiang

Henan

18

Chongqing

Others

Major Region Total/Avrg

382

National Total/Avrg
Ningxia

123,000

32

Inner Mongolia

133,000

26

Hunan

298,000

73

Yunnan

26,000

36

Guangxi

384,000

73

Guizhou

222,000

51

Shanxi

56,000

14

Gansu

71,700

12

Sichuan

53,000

13

13

Northeast
Xinjiang
Henan

18

10

378

66200

32

161,300

Chongqing
Others
Major Region Total/Avrg
National Total/Avrg
Ningxia
Inner Mongolia

1,528,000
67200

26

109000

73

Yunnan

16200

36

Guangxi

184500

73

Guizhou

89000

51

Shanxi

28000

14

Gansu

21300

12

Sichuan

15000

13

Northeast

20100

13

Xinjiang

11100

Henan

15000

18
10

Hunan

Chongqing
Others
Najor Region Total/Avrg
National Total/Avrg

Q1 National Subtotal

12600

132000

655,200

787,200

378

2,315,200

Ningxia

62,000

32

Inner Mongolia

63,000

29

Hunan

110,000

73

Yunnan

16,500

36

Guangxi

192,000

73

Guizhou

92,000

51

Shanxi

15

Gansu

12

Sichuan

13

13

Henan

18

Chongqing

10

Others

Northeast
Xinjiang

209,000

Najor Region Total/Avrg

National Total/Avrg

4
744,500

382

Ningxia

63700

33

Inner Mongolia

60000

29

Hunan

101000

73

Yunnan

17200

36

Guangxi

182000

73

Guizhou

95000

51

Shanxi

15

Gansu

12

Sichuan

13

13

Henan

18

Chongqing

10

Others

Northeast
Xinjiang

182000

Najor Region Total/Avrg

National Total/Avrg

383

700,900

Ningxia

82,900

25

33

Inner Mongolia

67,200

15

29

Hunan

89,000

73

Yunnan

42,300

18

36

Guangxi

198,100

16

73

Guizhou

101,000

14

52

Shanxi

15

Gansu

12

Sichuan

13

13

Henan

14

18

Chongqing

10

Others

Najor Region Total/Avrg

134

384

Northeast
Xinjiang

Total/Avrg

216,700

797,200

Ningxia

81000

25

33

Inner Mongolia

78900

18

30

Hunan

32000

73

Yunnan

55500

18

35

Guangxi

182000

25

73

Guizhou

15

37

Shanxi

14

Gansu

12

Sichuan

13

Northeast

13

Xinjiang

104000

229000

Henan

14

18

Chongqing

10

Others

Najor Region Total/Avrg

150

368

762,400

Ningxia

81,000

25

33

Inner Mongolia

80,400

18

30

Hunan

34,000

73

Yunnan

64,600

19

35

Guangxi

185,000

27

74

Guizhou

98,000

Total/Avrg

16

38

Shanxi

14

Gansu

14

Sichuan

14

Northeast

14

Xinjiang

186,000

Henan

11

18

Chongqing

10

Others

8
154

374

Najor Region Total/Avrg

Total/Avrg

8
729,000

Ningxia

97350

22

34

Inner Mongolia

70500

19

30

Hunan

36000

10

73

Yunnan

68300

13

35

Guangxi

205000

27

74

Guizhou

98600

15

38

Shanxi

14

Gansu

14

Sichuan

14

Northeast

13

Xinjiang

243000

Henan

10

18

Chongqing

10

Others

9
146

374

Najor Region Total/Avrg

Total/Avrg

818,750

Ningxia

110,850

10

22

34

Inner Mongolia

111,900

10

16

30

54,000

10

73

Yunnan

74,100

10

10

35

Guangxi

106,700

10

22

74

Guizhou

94,900

10

15

39

Hunan

Shanxi

10

14

Gansu

10

14

Sichuan

10

14

10

13

10

Henan

10

18

Chongqing

10

10

Others

10
127

375

Northeast
Xinjiang

279,000

Najor Region Total/Avrg

Total/Avrg
Ningxia

10
831,450

10

108400

11

23

34

Inner Mongolia

81400

11

16

30

Hunan

58200

11

N/A

73

Yunnan

47400

11

10

35

Guangxi

98500

11

17

74

Guizhou

93000

11

11

40

Shanxi

23400

11

14

Gansu

23200

11

14

Northeast

21900

11

14

Xinjiang

19800

11

14

Henan

17700

11

9800

11

17

11

10

108

376

Chongqing
Sichuan
Others

126000

Najor Region Total/Avrg

11
11

Total/Avrg

728,700

11

Ningxia

108,400

12

23

34

Inner Mongolia

85,000

12

16

30

Hunan

28,200

12

N/A

73

Yunnan

31,000

12

35

Guangxi

95,500

12

17

74

Guizhou

58,000

12

11

40

Shanxi

29,500

12

14

Gansu

28,600

12

14

Northeast

25,000

12

14

Xinjiang

19,800

12

14

Henan

17,700

12

8,700

12

17

12

10

104

376

Chongqing
Sichuan
Others

126,000

Najor Region Total/Avrg

Total/Avrg

12
11

661,400

12

Jan
68.4%
Ningxia
Inner Mongolia 74.5%

Feb
57.7%
69.9%

2014 Monthly Capacity

Mar
57.7%
54.3%

11.2%
Hunan
14.1%
Yunnan
25.6%
Guangxi
27.8%
Guizhou
40.3%
Shanxi
17.8%
Gansu
11.2%
Sichuan
46.6%
Northeast
66.0%
Xinjiang
52.0%
Henan
25.2%
Chongqing
34.5%
Weighted Average

7.8%
14.1%
22.4%
21.6%
40.3%
16.1%
11.2%
46.6%
27.3%
41.6%
1.7%
29.7%

7.2%
14.1%
20.3%
21.6%
42.0%
15.8%
11.2%
46.6%
32.7%
39.9%
1.7%
27.8%

Annual
Capacity

2,316,000

Capacity % 30Monthly
by Region
Capaciy (30 day basis)

11%

193,000

Deduced
Daily Capacity

6,433

Daily
Output

4,400

Monthly
Output

136,400

1,884,000

9%

157,000

5,233

3,900

120,900

1,843,200

9%

153,600

5,120

575

17,825

2,064,000

10%

172,000

5,733

810

25,110

3,943,800

20%

2,736,000

14%

328,650
228,000

10,955
7,600

2,801
2,115

86,831
65,565

790,200

4%

65,850

2,195

885

27,435

2,012,400

10%

167,700

5,590

995

30,845

516,000

3%

43,000

660,000

3%

55,000

294,540

1%

24,545

1,433
1,833

160

4,960

855

26,505
16,740

818

540

727,200

4%

60,600

2,020

1,050

32,550

372,000

2%

31,000

1,033

260

8,060

20,159,340

100%

1,679,945

55,998

19,346

599,726

25,199,175

2,099,931

69,998

24,183

749,658

2,316,000

12%

193,000

6,433.33

3,710

103,880

1,884,000

9%

157,000

5,233

3,660

102,480

1,843,200

9%

153,600

5,120

400

11,200

2,064,000

10%

172,000

5,733

810

22,680

3,492,000

18%

291,000

9,700

2,170

60,760

2,736,000

14%

228,000

7,600

1,645

46,060

790,200

4%

65,850

2,195

885

24,780

2,012,400

10%

167,700

5,590

900

25,200

516,000

3%

43,000

1,433

160

4,480

660,000

3%

55,000

1,833

855

23,940

396,000

2%

33,000

1,100

300

8,400

727,200

4%

60,600

2,020

840

23,520

420,000

2%

35,000

1,167

20

560

19,857,000

100%

1,654,750

55,158

16,355

457,940

2,068,438

68,948

20,444

572,425

24,821,250
2,316,000

12%

193,000

6,433

3,710

115,010

1,884,000

9%

157,000

5,233

2,840

88,040

1,843,200

9%

153,600

5,120

370

11,470

2,064,000

10%

172,000

5,733

810

25,110

3,516,000

18%

293,000

9,767

1,980

61,380

2,736,000

14%

228,000

7,600

1,645

50,995

809,400

4%

67,450

2,248

945

29,295

2,012,400

10%

167,700

5,590

885

27,435

516,000

3%

43,000

1,433

160

4,960

660,000

3%

55,000

1,833

855

26,505

396,000

2%

33,000

1,100

360

11,160

727,200

4%

60,600

2,020

805

24,955

420,000

2%

35,000

1,167

20

620

19,900,200

100%

1,658,350

55,278

15,385

476,935

2,072,938

69,098

19,231

596,169

24,875,250

1,918,251
2,316,000

11%

193,000

6,433

3,815

114,450

2,232,000

11%

186,000

6,200

2,483

74,490

1,843,200

9%

153,600

5,120

320

9,600

2,064,000

10%

172,000

5,733

810

24,300

3,516,000

17%

293,000

9,767

1,980

59,400

2,736,000

13%

228,000

7,600

1,456

43,680

857,400

4%

71,450

2,382

1,025

30,750

2,012,400

10%

167,700

5,590

885

26,550

516,000

3%

43,000

1,433

200

6,000

660,000

3%

55,000

1,833

855

25,650

396,000

2%

33,000

1,100

360

10,800

727,200

4%

60,600

2,020

820

24,600

420,000

2%

35,000

1,167

20

600

20,296,200

100%

1,691,350

56,378

15,029

450,870

2,114,188

70,473

18,786

563,588

25,370,250
2,376,000
2,232,000

12%

198,000

6,600

3,975

123,225

11%

186,000

6,200

2,483

76,973

1,843,200

9%

153,600

5,120

470

14,570

2,064,000

10%

172,000

5,733

840

26,040

3,516,000

17%

293,000

9,767

1,365

42,315

2,736,000

13%

228,000

7,600

1,350

41,850

857,400

4%

71,450

2,382

980

30,380

2,012,400

10%

167,700

5,590

675

20,925

516,000

3%

43,000

1,433

280

8,680

660,000

3%

55,000

1,833

660

20,460

396,000

2%

33,000

1,100

360

11,160

727,200

4%

60,600

2,020

760

23,560

420,000

2%

35,000

1,167

150

4,650

20,356,200

100%

1,696,350

56,545

14,348

444,788

25,445,250

2,120,438

70,681.25

17,935

555,985

2,376,000

198,000

6,600

4,095

122,850

2,232,000

186,000

6,200

2,923

87,690

1,843,200

153,600

5,120

530

15,900

2,064,000

172,000

5,733

1,970

59,100

3,516,000

293,000

9,767

1,580

47,400

2,772,000

231,000

7,700

2,060

61,800

857,400

71,450

2,382

980

29,400

2,012,400

167,700

5,590

675

20,250

516,000

43,000

1,433

380

11,400

660,000

55,000

1,833

660

19,800

396,000

33,000

1,100

420

12,600

727,200

60,600

2,020

1,090

32,700

420,000

35,000

1,167

150

4,500

1,699,350

56,645

17,513

525,390

25,490,250

2,124,188

70,806.25

21,891

656,738

2,376,000

198,000

6,600

4,235

131,285

2,352,000

196,000

6,533

3,643

112,933

1,843,200

153,600

5,120

550

17,050

2,040,000

170,000

5,667

1,970

61,070

3,516,000

293,000

9,767

2,600

80,600

20,392,200

0%

2,230,800

185,900

6,197

2,240

69,440

819,000

68,250

2,275

980

30,380

2,012,400

167,700

5,590

675

20,925

516,000

43,000

1,433

380

11,780

660,000

55,000

1,833

660

20,460

396,000

33,000

1,100

570

17,670

727,200

60,600

2,020

1,090

33,790

420,000

35,000

1,167

120

3,720

1,659,050

55,302

19,713

611,103

24,885,750

2,073,813

69,127.08

24,641

763,879

2,376,000

198,000

6,600

4,235

131,285

2,352,000

196,000

6,533

3,643

112,933

1,843,200

153,600

5,120

520

16,120

2,040,000

170,000

5,667

1,995

61,845

3,528,000

294,000

9,800

3,440

106,640

2,350,800

195,900

6,530

2,578

79,918

819,000

68,250

2,275

900

27,900

2,486,400

207,200

6,907

795

24,645

588,000

49,000

1,633

480

14,880

732,000

61,000

2,033

760

23,560

396,000

33,000

1,100

690

21,390

727,200

60,600

2,020

920

28,520

420,000

35,000

1,167

120

3,720
653,356

19,908,600

20,658,600

0%

1,721,550

57,385

21,076

25,823,250

0%

2,151,938

71,731

26,345

2,400,000

200,000

6,667

3,940

816,695
118,200

2,352,000

196,000

6,533

3,793

113,790

1,843,200

153,600

5,120

550

16,500

2,040,000

170,000

5,667

1,525

45,750

3,552,000

296,000

9,867

3,560

106,800

6,530

2,688

2,350,800

195,900

819,000

68,250

2,275

930

27,900

2,486,400

207,200

6,907

795

23,850

588,000

49,000

1,633

515

80,640

15,450

660,000

55,000

1,833

660

19,800

396,000

33,000

1,100

690

20,700

727,200

60,600

2,020

900

27,000

420,000

35,000

1,167

115

3,450

20,634,600

1,719,550

57,318

20,661

619,830

25,793,250

0%

2,149,438

71,648

25,826

774,788

2,400,000

200,000

6,667

3,900

120,900

2,352,000

196,000

6,533

3,520

109,120

1,843,200

153,600

5,120

500

15,500

2,040,000

170,000

5,667

970

30,070

3,552,000

296,000

9,867

3,000

93,000

2,386,800

198,900

6,630

2,748

85,188

819,000

68,250

2,275

870

26,970

2,486,400

207,200

6,907

795

24,645

588,000

49,000

1,633

480

14,880

660,000

55,000

1,833

580

17,980

396,000

33,000

1,100

420

13,020

727,200

60,600

2,020

800

24,800

420,000

35,000

1,167

115

3,565

20,670,600

1,722,550

57,418

18,698

579,638

25,838,250

0%

2,153,188

71,773

23,373

724,548

2,664,000

222,000

7,400

4,050

121,500

2,352,000

196,000

6,533

3,403

102,090

1,843,200

153,600

5,120

N/A

N/A

2,160,000

180,000

6,000

970

29,100

3,552,000

296,000

9,867

2,240

67,200

2,458,800

204,900

6,830

1,040

31,200

819,000

68,250

2,275

930

27,900

2,486,400

207,200

6,907

615

18,450

588,000

49,000

1,633

420

12,600

780,000

65,000

2,167

700

21,000

396,000

33,000

1,100

420

12,600

703,200

58,600

1,953

820

24,600

420,000

35,000

1,167

115

3,450

1,768,550

58,952

15,723

471,690

26,528,250

2,210,688

73,690

19,654

589,613

2,664,000

222,000

7,400

4,050

125,550

2,352,000

196,000

6,533

3,403

105,493

1,843,200

153,600

5,120

N/A

N/A

2,160,000

180,000

6,000

490

15,190

3,552,000

296,000

9,867

2,240

69,440

2,458,800

204,900

6,830

1,040

32,240

21,222,600

0%

819,000

68,250

2,275

930

28,830

2,486,400

207,200

6,907

665

20,615

588,000

49,000

1,633

420

13,020

780,000

65,000

2,167

700

21,700

396,000

33,000

1,100

420

13,020

703,200

58,600

1,953

820

25,420

420,000

35,000

1,167

115

3,565

1,768,550

58,952

15,293

474,083

2,210,688

73,690

19,116

592,604

21,222,600
26,528,250

0%

2014 Monthly Capacity Utilization Ratio in Major SiMn Production Regions

Apr
May
Jun
Jul
Aug
Sep
59.3%
60.2%
62.0%
64.2%
64.2%
40.0%
40.0%
47.1%
55.8%
55.8%

59.1%
58.1%

6.3%
14.1%
20.3%
19.2%
43.0%
15.8%
14.0%
46.6%
32.7%
40.6%
1.7%
26.7%

9.2%
14.7%
14.0%
17.8%
41.1%
12.1%
19.5%
36.0%
32.7%
37.6%
12.9%
25.4%

10.4%
34.4%
16.2%
26.8%
41.1%
12.1%
26.5%
36.0%
38.2%
54.0%
12.9%
30.9%

10.7%
34.8%
26.6%
36.1%
43.1%
12.1%
26.5%
36.0%
51.8%
54.0%
10.3%
35.6%

10.2%
35.2%
35.1%
39.5%
39.6%
11.5%
29.4%
37.4%
62.7%
45.5%
10.3%
36.7%

10.7%
26.9%
36.1%
41.2%
40.9%
11.5%
31.5%
36.0%
62.7%
44.6%
9.9%
36.0%

Remarks:

1.The 2013 output data highlighted in red is the sum of Jan & Feb 2013 output

2. Monthly capacity in 13 production regions are the sum of 30-day basis capacity of all smelters surveyed in th
on the size and numbers of furnaces.
3. Deduced daily capacity is the 30 day basis monthly capacity divided by 30
4. Annual Capacity is 30 day basis monthly capacity multiply 12
5. Monthly output at 13 production regions is the product of daily output and number of days of the month

6. Nationwide monthly output is quotient of total output of 13 production regions and 80%, basing on the assum
smelters surveyed covers 80% of China's SiMn capacity
7. Capacity utilization is the quotient of daily output and deduced daily capacity

8. The Capacity utilization ratio drop in Inner Mongolia in April was enlarged as 3 new smelte
capacity were included into the sample base. Adjusted cap utilization ratio should be 45%, 45
April, May and June if the 3 new sample smelters were not considered

Output % by
Region

Cap Utilization
Ratio

23%

68.4%

20%

74.5%

3%

11.2%

4%

14.1%

YoY
Change

14%

25.6%

11%

27.8%

5%

40.3%

5%

17.8%

1%

11.2%

4%

46.6%

3%

66.0%

5%

52.0%

1%

25.2%

100%

34.5%
34.5%

23%

57.7%

22%

69.9%

2%

7.8%

5%

14.1%

13%

22.4%

10%

21.6%

5%

40.3%

6%

16.1%

1%

11.2%

5%

46.6%

2%

27.3%

5%

41.6%

0%

1.7%

100%

29.7%
29.7%

24%

57.7%

18%

54.3%

2%

7.2%

5%

14.1%

13%

20.3%

11%

21.6%

6%

42.0%

6%

15.8%

-13.5%

1%

11.2%

6%

46.6%

2%

32.7%

5%

39.9%

0%

1.7%

100%

27.8%

-27.2%

27.8%

-24.3%
-17.1%

25%

59.3%

17%

40.0%

2%

6.3%

5%

14.1%

13%

20.3%

10%

19.2%

7%

43.0%

6%

15.8%

1%

14.0%

6%

46.6%

2%

32.7%

5%

40.6%

0%

1.7%

100%

26.7%

N/A

26.7%

-24.3%

28%

60.2%

17%

40.0%

3%

9.2%

6%

14.7%

10%

14.0%

9%

17.8%

7%

41.1%

5%

12.1%

2%

19.5%

5%

36.0%

3%

32.7%

5%

37.6%

1%

12.9%

100%

25.4%

N/A

25.4%

-20.7%

23%

62.0%

17%

47.1%

3%

10.4%

11%

34.4%

9%

16.2%

12%

26.8%

6%

41.1%

4%

12.1%

2%

26.5%

4%

36.0%

2%

38.2%

6%

54.0%

1%

12.9%

100%

30.9%

N/A

30.9%

-17.6%

21%

64.2%

18%

55.8%

3%

10.7%

10%

34.8%

13%

26.6%

2,430,259
3,037,824

3,760,600

2,955,649
3,694,561

4,557,800

-18.94%

11%

36.1%

5%

43.1%

3%

12.1%

2%

26.5%

3%

36.0%

3%

51.8%

6%

54.0%

1%

10.3%

100%

35.6%

N/A

35.6%

0.2%

20%

64.2%

17%

55.8%

2%

10.2%

9%

35.2%

16%

35.1%

12%

39.5%

4%

39.6%

4%

11.5%

2%

29.4%

4%

37.4%

3%

62.7%

4%

45.5%

1%

10.3%

100%

36.7%

N/A

36.7%

12%

19%

59.1%

18%

58.1%

3%

10.7%

7%

26.9%

17%

36.1%

13%

41.2%

5%

40.9%

4%

11.5%

2%

31.5%

3%

36.0%

3%

62.7%

4%

44.6%

1%

9.9%

100%

36.0%

N/A

36.0%

-5%

21%

58.5%

19%

53.9%

3%

9.8%

5%

17.1%

16%

30.4%

15%

41.4%

3,566,752
4,458,440

5,320,200

-16.20%

4,220,108
5,275,135

6,049,200

-12.80%

4,839,938
6,049,923

6,867,950

-11.91%

5%

38.2%

4%

11.5%

3%

29.4%

3%

31.6%

2%

38.2%

4%

39.6%

1%

9.9%

100%

32.6%

N/A

32.6%

-13%

26%

54.7%

22%

52.1%

N/A

N/A

6%

16.2%

14%

22.7%

7%

15.2%

6%

40.9%

4%

8.9%

3%

25.7%

4%

32.3%

3%

38.2%

5%

42.0%

1%

9.9%

100%

26.7%

N/A

26.7%

-19%

26%

54.7%

22%

52.1%

N/A

N/A

3%

8.2%

15%

22.7%

7%

15.2%

6%

40.9%

4%

9.6%

3%

25.7%

5%

32.3%

3%

38.2%

5%

42.0%

1%

9.9%

100%

25.9%

N/A

25.9%

Oct

Nov
58.5%
53.9%

Dec
54.7%
52.1%

54.7%
52.1%

5,419,576
6,774,470

7,699,400

5,891,266
7,364,083

8,428,100

6,365,349
7,956,686

9,089,500

-12.01%

9.8% N/A
17.1%
30.4%
41.4%
38.2%
11.5%
29.4%
31.6%
38.2%
39.6%
9.9%
32.6%

N/A
16.2%
22.7%
15.2%
40.9%
8.9%
25.7%
32.3%
38.2%
42.0%
9.9%
27.5%

8.2%
22.7%
15.2%
40.9%
9.6%
25.7%
32.3%
38.2%
42.0%
9.9%
26.8%

13 output

pacity of all smelters surveyed in the region basing

number of days of the month

ons and 80%, basing on the assumption that

as enlarged as 3 new smelters with huge

ation ratio should be 45%, 45% and 53% in
idered

-17.6%

0.2%

12.0%

-5.4%

-12.9%

350

300

250

283.5
278.1
303.9
285.1

200

3,664.3

2.0%

0.0

56
12/1/2014
11/1/2014
9/1/2014
12/1/2013

-6.7%
-0.6%

439.2

35 35 Special Steel Mills

Planned
Production

MoM Growth

Actual
Production

YoY Growth

(x10,000mt)
2011/10
2011/11
2011/12
2012/01
2012/02
2012/03
2012/04
2012/05
2012/06
2012/07
2012/08
2012/09
2012/10
2012/11
2012/12
2013/01
2013/02
2013/03
2013/04
2013/05
2013/06
2013/07
2013/08
2013/09
2013/10
2013/11
2013/12
2013 Subtotal
2014/01
2014/02

263.7
219.1
251.0
254.5
269.2
283.2
271.6
282.9
268.7
259.5
290.7
247.2
252.0
261.0
261.1
282.5
290.5
303.0
302.4
309.0
308.0
304.1
314.0
327.4
324.7
313.8
285.1
3664.3
310.1
285.7

(x10,000mt)

-16.9%
14.6%
1.4%
5.8%
5.2%
-4.1%
4.1%
-5.0%
-3.4%
12.0%
-15.0%
1.9%
3.6%
0.0%
8.2%
2.8%
4.3%
-0.2%
2.2%
-0.3%
-1.3%
3.3%
4.2%
-0.8%
-3.3%
-9.1%
8.8%
-7.9%

261.4
232.1
250.4
244.6
260.4
235.3
276.3
278.9
271.4
293.8
254.4
243.0
243.7
255.0
284.0
280.1
292.1
292.0
291.4
303.0
290.6
281.1
305.8
312.2
310.6
283.6
287.5
3242.3
293.2
285.8

14.5%
12.2%
24.1%
5.5%
8.6%
7.1%
-4.3%
20.2%
28.5%
27.5%
11.2%
1.2%
4.7%
-2.1%

2014/03
2014/04
2014/05
2014/06
2014/07
2014/08
2014/09
2014/10
2014/11
2014/12
2014subtotal

Frontpage

300.9
299.3
318.3
313.2
296.6
305.0
303.9
296.7
278.1
283.5
3591.2
-2.0%

5.3%
-0.5%
6.3%
-1.6%
-5.3%
2.8%
-0.4%
-2.4%
-6.3%

298.0
314.3
311.8
294.2
289.6
284.7
296.1
281.01
274.75
3223.4
-0.6%

2.1%
7.9%
2.9%
1.2%
3.0%
-6.9%
-5.2%
-9.5%
-3.1%


Sources:
SSEA,Guojin Securities

35 Special Steel Mills

Actual/Plan Ratio

Inventory
(x10,000mt)

99.1%
105.9%
99.8%
96.1%
96.7%
83.1%
101.7%
98.6%
101.0%
113.2%
87.5%
98.3%
96.7%
97.7%
108.8%
99.2%
100.6%
96.4%
96.4%
98.1%
94.3%
92.4%
97.4%
95.4%
95.7%
90.4%
100.8%

73.9
61.0
51.7
74.9
48.4
54.6
60.2
86.1
80.8
121.9
119.4
80.1
75.5
69.7
66.2
64.3
94.8
118.4
110.3
122.8
97.5
83.0
86.3
106.7
111.4
89.8
75.8

94.6%
100.1%

104.7
124.3

99.0%
105.0%
98.0%
93.9%
97.6%
93.3%
97.4%
94.7%
98.8%

115.2
106.4
106.3
101.67
88.44
97.26
98.26
99.26
85.85

Err:504

Err:504

Err:504

Blast
Furnaces

Sample
Number

2011/1/5
2011/1/12
2011/1/19
2011/1/26
2011/2/9
2011/2/16
2011/2/23
2011/3/2
2011/3/9
2011/3/23
2011/3/30
2011/4/6
2011/4/13
2011/4/20
2011/4/27
2011/5/4
2011/5/11
2011/5/18
2011/5/25
2011/6/1
2011/6/8
2011/6/15
2011/6/22
2011/6/29

Err:504
Err:504
Err:504

Err:504
Err:504
Err:504

Blast Furnace & Rolling Mill Operation Rate

(145mm)
Wire Rebar
Strip
(above
145mm)

Rolling Mills

51

155

94.7%
94.7%
94.7%
94.7%
94.7%
94.7%
95.3%
96.0%
97.3%
95.3%
95.0%
95.0%
95.0%
94.7%
96.0%
96.9%
96.9%
96.9%
96.9%
96.9%
96.9%
96.9%
96.0%
95.0%

217
Err:504
Err:504

56.8%
53.8%
51.3%
29.5%
29.5%
29.5%
64.3%
64.7%
63.1%
71.2%
73.4%
73.4%
75.8%
73.3%
69.3%
69.3%
67.3%
59.2%
63.1%
62.6%
57.5%
68.4%
68.0%
60.8%

49

60.8%
60.8%
52.0%
32.0%
32.0%
32.0%
75.0%
69.0%
67.3%
79.6%
79.6%
79.6%
79.0%
77.1%
77.0%
77.0%
77.0%
56.5%
64.6%
60.4%
37.5%
68.8%
68.8%
62.5%

24

45.0%
36.0%
46.0%
27.3%
27.3%
27.3%
50.0%
55.0%
55.0%
68.0%
71.0%
71.0%
75.0%
68.0%
64.0%
64.0%
64.0%
61.5%
61.5%
61.5%
73.1%
73.1%
73.1%
63.0%

2011/7/6
2011/7/13
2011/7/20
2011/7/27
2011/8/3
2011/8/10
2011/8/17
2011/8/24
2011/8/31
2011/9/7
2011/9/14
2011/9/21
2011/9/28
2011/10/12
2011/10/19
2011/10/26
2011/11/2
2011/11/9
2011/11/16
2011/11/23
2011/11/30
2011/12/7
2011/12/14
2011/12/21
2011/12/28
2012/1/4
2012/1/11
2012/1/18
2012/1/25
2012/2/1
2012/2/8
2012/2/15
2012/2/22
2012/2/29
2012/3/7
2012/3/14
2012/3/21
2012/3/28
2012/4/4
2012/4/11
2012/4/18
2012/4/25
2012/5/2
2012/5/9
2012/5/16
2012/5/23
2012/5/30

94.7%
96.0%
96.0%
96.0%
96.0%
96.0%
96.0%
96.0%
96.0%
96.0%
96.0%
95.3%
95.3%
94.0%
89.4%
84.0%
86.7%
90.7%
94.0%
94.0%
96.0%
96.0%
96.7%
96.7%
96.7%
96.0%
96.0%
96.0%
95.3%
95.3%
95.3%
95.3%
95.3%
95.5%
96.0%
96.0%
96.7%
97.0%
97.3%
98.7%
98.7%
97.3%
97.3%
96.7%
94.7%
94.7%
94.0%

64.7%
62.0%
68.4%
65.0%
64.6%
63.3%
67.5%
63.5%
62.6%
61.0%
60.9%
54.1%
58.9%
61.9%
59.2%
53.6%
56.5%
51.3%
56.6%
57.5%
56.1%
51.3%
49.0%
42.2%
47.8%
47.2%
33.7%
21.6%
21.6%
21.9%
40.1%
49.2%
53.7%
60.8%
60.4%
64.9%
62.8%
60.4%
60.4%
62.6%
57.7%
61.1%
58.7%
58.7%
55.7%
55.7%
60.7%

73.0%
62.5%
68.8%
68.8%
68.8%
68.8%
73.5%
73.5%
69.4%
74.0%
66.0%
54.0%
61.8%
74.5%
64.7%
60.8%
60.8%
62.0%
76.0%
76.0%
64.0%
52.0%
55.0%
43.0%
43.0%
41.0%
31.0%
15.0%
15.0%
13.0%
37.0%
51.9%
51.9%
68.0%
68.0%
79.0%
77.0%
70.0%
70.0%
67.0%
67.0%
67.0%
67.0%
70.0%
70.0%
67.0%
76.0%

69.2%
61.5%
58.0%
58.0%
58.0%
54.0%
62.0%
46.0%
50.0%
42.0%
52.0%
53.8%
55.6%
48.0%
52.0%
52.0%
48.0%
30.0%
37.0%
37.0%
41.0%
41.0%
30.0%
33.0%
41.0%
41.0%
29.6%
29.6%
29.6%
26.0%
30.0%
30.0%
41.0%
41.0%
41.0%
41.0%
43.0%
43.0%
43.0%
50.0%
39.0%
48.0%
48.0%
45.0%
41.0%
48.0%
48.0%

2012/6/6
2012/6/13
2012/6/20
2012/6/27
2012/7/4
2012/7/11
2012/7/18
2012/7/25
2012/8/1
2012/8/8
2012/8/15
2012/8/22
2012/8/29
2012/9/7
2012/9/14
2012/9/21
2012/9/28
2012/10/12
2012/10/19
2012/10/24
2012/10/31
2012/11/7
2012/11/14
2012/11/21
2012/11/28
2012/12/5
2012/12/12
2012/12/19
2012/12/26
2013/1/2
2013/1/9
2013/1/16
2013/1/23
2013/1/30
2013/2/6
2013/2/22
2013/3/1
2013/3/8
2013/3/15
2013/3/22
2013/3/29
2013/4/3
2013/4/14
2013/4/19
2013/4/26
2013/5/3
2013/5/10

92.0%
92.0%
92.7%
95.3%
95.3%
96.5%
96.5%
90.3%
86.2%
84.1%
86.9%
86.9%
86.9%
86.2%
87.6%
84.1%
84.1%
88.3%
88.3%
89.7%
91.8%
91.1%
93.2%
95.2%
95.3%
95.3%
95.3%
96.0%
96.6%
96.6%
97.3%
98.0%
98.0%
98.7%
98.0%
96.7%
94.7%
92.7%
94.7%
94.1%
91.6%
92.9%
91.6%
96.8%
96.8%
97.4%
96.2%

58.3%
59.9%
60.9%
54.6%
54.6%
58.6%
59.9%
54.7%
57.2%
56.4%
55.5%
57.7%
60.2%
58.2%
61.0%
61.8%
63.4%
65.6%
68.3%
73.3%
74.4%
73.6%
74.7%
68.0%
66.0%
67.5%
68.0%
66.2%
62.4%
62.4%
62.9%
61.0%
63.1%
56.8%
50.7%
54.9%
61.8%
64.2%
58.3%
67.9%
67.2%
67.2%
68.8%
69.8%
69.6%
68.3%
66.6%

58.0%
58.0%
58.0%
54.0%
48.0%
56.0%
64.0%
66.7%
60.8%
71.0%
72.5%
72.5%
74.5%
76.5%
76.5%
76.5%
72.5%

72.0%
75.0%
78.0%
62.0%
62.0%
69.4%
76.5%
55.3%
66.0%
56.8%
56.0%
60.0%
58.0%
60.0%
66.0%
66.0%
59.2%
59.2%
67.4%
79.6%
75.5%
75.5%
75.5%
67.4%
66.0%
69.4%
63.3%
56.3%
43.8%
43.8%
33.3%
33.3%
43.8%
33.3%
27.1%
50.0%
58.3%
62.5%
39.6%
60.4%
58.3%
58.3%
63.3%
65.3%
69.4%
63.3%
59.2%

45.0%
46.7%
46.7%
46.7%
46.7%
46.0%
36.0%
39.0%
42.0%
50.0%
46.0%
42.0%
54.0%
50.0%
50.0%
50.0%
58.0%
62.5%
62.5%
58.3%
62.5%
58.0%
62.0%
50.0%
54.0%
58.0%
58.0%
62.0%
62.0%
62.0%
54.0%
46.0%
50.0%
45.8%
46.0%
50.0%
42.0%
42.0%
42.0%
42.0%
38.0%
42.0%
42.0%
38.0%
33.0%
33.0%
38.0%

2013/5/17
2013/5/24
2013/5/31
2013/6/7
2013/6/14
2013/6/21
2013/6/28
2013/7/5
2013/7/12
2013/7/19
2013/7/26
2013/8/2
2013/8/9
2013/8/16
2013/8/23
2013/8/30
2013/9/6
2013/9/13
2013/9/22
2013/9/27
2013/10/12
2013/10/18
2013/10/24
2013/11/1
2013/11/8
2013/11/15
2013/11/22
2013/11/29
2013/12/6
2013/12/13
2013/12/20
2013/12/27
2014/1/3
2014/1/10
2014/1/17
2014/1/24
2014/2/7
2014/2/14
2014/2/21
2014/2/28
2014/3/7
2014/3/14
2014/3/21
2014/3/28
2014/4/4
2014/4/11
2014/4/18

94.9%
93.0%
93.0%
91.0%
91.0%
91.0%
91.0%
91.7%
90.4%
90.4%
91.7%
91.7%
91.0%
91.0%
89.7%
89.7%
89.1%
89.1%
90.3%
89.0%
87.7%
91.6%
89.6%
89.6%
91.6%
91.6%
90.3%
90.3%
90.3%
88.3%
88.3%
88.3%
89.0%
88.3%
89.0%
88.3%
85.7%
88.3%
89.0%
87.0%
84.4%
84.4%
83.8%
83.8%
82.5%
85.1%
86.4%

63.3%
62.9%
60.8%
61.1%
67.2%
65.2%
66.6%
60.7%
70.6%
66.6%
64.4%
67.2%
65.2%
64.1%
64.4%
65.3%
66.4%
67.6%
64.7%
65.3%
62.3%
62.5%
65.4%
64.7%
64.7%
62.6%
59.4%
62.0%
58.8%
58.8%
60.7%
57.0%
60.9%
59.6%
57.1%
52.6%
52.6%
47.7%
54.0%
52.9%
62.2%
64.8%
64.1%
63.7%
64.6%
66.2%
66.1%

64.7%
64.7%
62.7%
62.7%
68.6%
62.7%
60.8%
58.2%
72.5%
64.7%
61.2%
70.6%
66.7%
64.7%
64.7%
66.7%
70.6%
70.6%
64.7%
66.7%
64.7%
66.7%
64.7%
62.7%
62.7%
62.7%
60.8%
60.8%
60.8%
62.7%
62.7%
60.8%
62.7%
62.7%
60.8%
52.9%

55.1%
55.1%
49.0%
49.0%
53.1%
49.0%
49.0%
40.8%
63.3%
57.1%
61.2%
59.2%
51.0%
49.0%
53.1%
53.1%
59.2%
55.1%
51.0%
46.9%
46.9%
46.9%
51.0%
49.0%
49.0%
46.9%
46.9%
49.0%
49.0%
49.0%
53.1%
40.8%
40.8%
44.9%
36.7%
30.6%

33.0%
38.0%
33.0%
38.0%
58.0%
54.0%
58.0%
54.0%
54.0%
54.0%
46.0%
54.0%
54.0%
50.0%
50.0%
50.0%
54.0%
54.0%
54.0%
54.0%
54.0%
54.0%
58.0%
58.0%
58.0%
50.0%
46.0%
54.0%
50.0%
50.0%
46.0%
54.0%
54.0%
50.0%
54.0%
50.0%

50.1%
52.9%
50.1%
58.8%
58.8%
56.9%
56.9%
63.6%
60.0%
60.0%

27.7%
47.5%
46.4%
58.2%
56.7%
56.7%
56.7%
55.4%
55.4%
55.4%

46.0%
42.0%
50.0%
58.0%
58.0%
58.0%
58.0%
58.0%
58.0%
58.0%

2014/4/25
2014/5/2
2014/5/8
2014/5/16
2014/5/23
2014/5/30
2014/6/6
2014/6/13
2014/6/20
2014/6/27
2014/7/3
2014/7/10
2014/7/17
2014/7/24
2014/7/31
8/8/2014
8/14/2014
8/22/2014
8/29/2014
9/5/2014
9/12/2014
9/19/2014
9/26/2014
2014/10/9
2014/10/16
2014/10/24
2014/10/31
2014/11/7
2014/11/13
2014/11/20
2014/11/27
2014/12/4
2014/12/11
2014/12/18
2014/12/25
2015/1/4
2015/1/8

85.7%
87.0%
85.1%
86.4%
87.0%
89.5%
91.8%
92.6%
93.3%
94.7%
95.3%
95.8%
96.3%
96.9%
96.5%
95.4%
96.1%
96.8%
96.1%
96.3%
96.7%
95.8%
95.0%
95.8%
94.4%
92.7%
94.1%
93.8%
44.4%
95.3%
96.2%
96.1%
97.9%
98.3%
98.3%
97.6%
97.0%

67.2%
66.5%
67.5%
68.5%
65.4%
65.6%
65.8%
66.4%
66.7%
66.9%
66.6%
65.6%
65.6%
67.2%
70.8%
70.9%
68.3%
67.0%
68.0%
67.4%
67.6%
68.9%
68.4%
68.4%
64.3%
65.6%
65.5%
60.7%
27.3%
68.8%
69.6%
70.9%
69.4%
68.8%
66.7%
65.2%
64.9%

60.0%
58.2%
65.5%
69.0%
69.0%
69.0%
69.0%
69.0%
67.3%
69.1%
67.3%
67.3%
69.1%
69.1%
73.7%
69.1%
69.1%
69.1%
73.7%
73.7%
71.9%
71.9%
68.4%
70.2%
63.2%
63.2%
66.7%
65.5%
33.0%
81.0%
81.0%
81.0%
77.0%
75.6%
69.2%
63.6%
63.6%

59.9%
55.8%
51.0%
52.8%
52.8%
52.8%
55.2%
55.2%
55.2%
55.2%
55.2%
55.2%
53.3%
61.4%
61.4%
58.7%
58.7%
58.7%
61.4%
61.4%
61.4%
61.4%
59.9%
61.4%
58.1%
58.1%
59.9%
56.9%
23.0%
52.4%
56.3%
60.9%
58.9%
56.0%
55.2%
55.2%
53.8%

62.5%
62.5%
60.0%
60.0%
52.0%
60.0%
60.0%
60.0%
60.0%
60.0%
64.0%
60.0%
52.0%
56.0%
68.0%
68.0%
60.0%
52.0%
60.0%
60.0%
64.0%
64.0%
64.0%
64.0%
59.3%
59.3%
59.3%
55.8%
27.6%
59.3%
59.3%
61.1%
62.5%
63.7%
63.7%
63.7%
63.7%

Err:504
100%

Sources:Guojin Securities

olling Mill Operation Rate

(232mm
) Strip
(above 232mm)

25

Err:504

Steel Mill Operation Rate in Than

80%

60%

40%

20%

Structural
Steel
0%

61

64.6%
64.6%
56.0%
29.1%
29.1%
29.1%
68.0%
70.0%
67.0%
66.0%
69.6%
69.6%
73.4%
74.7%
67.0%
67.0%
60.8%
59.5%
63.3%
65.8%
62.0%
63.3%
62.0%
57.0%

51.9%
62.0%
78.5%
68.4%
67.1%
67.1%
67.1%
70.9%
68.4%
67.1%
64.6%
54.4%
59.5%
63.3%
60.8%
48.1%
60.8%
62.0%
56.9%
59.5%
63.3%
60.8%
62.0%
50.6%
59.5%
59.5%
40.5%
20.3%
20.3%
26.6%
53.2%
65.8%
68.3%
73.4%
72.2%
74.6%
68.3%
68.3%
68.3%
70.9%
67.1%
68.3%
61.0%
61.0%
56.0%
52.0%
58.0%

88.0%
88.0%
88.0%
84.0%
84.0%
84.0%
88.0%
88.0%
84.0%
88.0%
84.0%
80.0%
84.0%
88.0%
88.0%
88.0%
88.0%

58.0%
58.0%
58.0%
55.1%
55.1%
60.4%
67.2%
69.8%
63.5%
62.5%
64.6%
71.0%
68.6%
64.6%
67.0%
69.4%
72.9%
75.0%
75.0%
82.1%
85.1%
87.4%
86.5%
86.7%
78.1%
75.0%
82.8%
80.3%
81.3%
81.3%
81.3%
79.5%
75.7%
66.8%
48.6%
34.4%
56.8%
61.9%
65.0%
77.9%
83.1%
83.3%
80.4%
81.4%
81.2%
81.0%
75.4%

88.0%
80.0%
80.0%
80.0%
72.0%
76.0%
84.0%
84.0%
80.0%
76.0%
76.0%
76.0%
80.0%
84.0%
80.0%
80.0%
72.0%
80.0%
76.0%
80.0%
72.0%
64.0%
72.0%
72.0%
72.0%
72.0%
64.0%
68.0%
68.0%
64.0%
68.0%
60.0%
68.0%
68.0%
68.0%
68.0%

75.9%
76.7%
79.4%
75.6%
84.2%
84.3%
81.1%
66.5%
83.2%
81.2%
77.6%
76.2%
74.3%
72.6%
74.0%
76.7%
76.4%
78.5%
77.9%
78.8%
73.7%
80.7%
81.2%
81.8%
81.9%
81.5%
79.4%
78.1%
66.1%
68.1%
73.7%
69.3%
78.9%
72.6%
66.1%
61.5%

68.0%
68.0%
64.0%
64.0%
76.0%
72.0%
73.0%
73.0%
76.9%
76.9%

46.8%
59.3%
54.2%
71.8%
74.3%
76.8%
74.1%
72.9%
80.7%
80.2%

76.9%
80.7%
80.7%
80.7%
76.9%
80.7%
76.9%
73.0%
73.0%
74.0%
77.7%
77.7%
81.4%
77.7%
77.7%
81.4%
77.7%
81.4%
77.7%
77.7%
77.7%
74.0%
77.7%
77.7%
68.0%
75.7%
74.3%
75.0%
41.9%
81.0%
81.6%
81.6%
81.2%
81.6%
80.7%
81.6%
77.5%

76.8%
75.1%
80.2%
80.0%
76.2%
65.7%
68.1%
74.6%
78.0%
76.3%
68.7%
67.7%
72.2%
72.0%
73.4%
77.3%
75.9%
73.8%
67.0%
64.4%
63.2%
73.4%
71.8%
69.0%
73.0%
71.6%
67.3%
50.3%
11.0%
70.6%
69.9%
69.8%
67.4%
67.2%
64.9%
61.9%
65.6%


el Mill Operation Rate in Thangshan

100%
90%
80%
70%
60%
50%
40%

 Frontpage

Members' 10day
Output

Estimated China
10day Output

1491.92

1690.59

1475.10

1668.64

1630.45

1839.77

1564.47

1695.74

1567.93

1699.21

1392.46

1510.61

1571.53

1898.00

1599.47

1918.51

1737.66

2079.05

1659.29

2030.79

1617.15

2005.18

1669.07

2034.99

1697.97

2045.33

1692.14

2039.50

1773.42

2155.52

1684.71

1999.35

1655.44

1970.46

1650.19

1965.22

1657.44

1958.06

1651.22

1993.35

1767.00

2144.34

1620.46

1969.89

1580.29

1930.42

1673.54

2058.65

1565.40

1894.60

1522.70

1856.50

1509.00

1842.80

1583.60

1916.20

1606.10

1999.20

1671.45

2118.27

1637.70

1956.70

1632.80

1951.80

1640.90

1959.90

1656.90

1945.00

1623.30

1910.90

1774.41

2090.77

1674.90

1944.20

1612.50

1914.40

1764.40

2105.62

1701.40

1988.90

1718.63

2006.10

1385.84

1627.36

Unit: x 10,000mt

6
2012
7

10

11

12

6
2013
7

10

11

12

1675.50

2084.60

1667.60

2063.70

1843.38

2279.09

1697.30

2123.90

1689.10

2115.80

1702.10

2128.70

1748.10

2192.90

1740.50

2185.40

1880.45

2369.84

1731.80

2156.30

1745.50

2164.30

1762.40

2181.20

1694.80

2083.00

1718.40

2130.30

1839.75

2292.84

1764.60

2143.70

1739.00

2118.10

1914.22

2331.12

1762.50

2129.40

1779.50

2143.50

1788.00

2152.00

1764.10

2128.10

1711.70

2106.80

1873.63

2308.24

1763.00

2144.00

1750.40

2131.90

1709.00

2091.00

1695.10

2012.90

1692.10

2014.30

1801.80

2157.10

62503.00
1

6
2014

1674.60

1996.80

1701.90

2006.60

1825.34

2160.40

1761.5

2066

1688.8

1966.4

1443.2

1665.36

1660.6

2096.8

1691.7

2096

1835.9

2280.3

1747.3

2151.5

1749.4

2280.2

1795.9

1824.1

1800.5

1944.03

1832.6

6
2014
7

10

11

12

1836.7

1778

1814.4

1807.7

1932.59

1820

1829.5

1844.48

1795.4

1787

1785.8

1800

1762.9

1631.5

1634.9

1642.1

1713.3

1749

1781.9

1722

63,446.54
1.5%

Frontpage

 CISA Members' Crude Steel Output

Members' Steel
Products Inventory

China

Days Average Daily Output

Monthly Crude Steel
Output
of members

882.15
955.40

149.19

10

147.51

1098.38

11

148.22

1157.88

10

156.45

10

156.79

154.72

10

157.15

10

159.95

11

157.97

10

165.93

10

161.71

1099.00

10

166.91

1122.05

10

169.80

10

169.21

1149.05

11

161.22

1150.62

10

168.47

1245.70

5673.3

10

5588.3

1108.26
1077.28
1119.36

6158.1

1081.83
1121.84
1146.45

1209.80

1214.96

6057.5

6123.4

10

165.54

1138.45

10

165.02

1179.04

10

165.74

10

165.12

11

160.64

10

162.05

10

158.03

11

152.14

10

156.54

10

152.27

1061.55

10

150.90

1077.40

10

158.36

10

160.61

1038.20

11

151.95

1005.80

10

163.77

1244.92

6021.3

6169.3

1232.01
1240.28
1248.60

5870

1185.23
1205.98
1160.13

1103.54

1064.49

5795

5910

10

163.28

1039.86

10

164.09

1033.10

10

165.69

10

162.33

11

161.31

10

167.49

10

161.25

11

160.40

10

170.14

10

171.86

173.23

1085.76

5747

5766

945.88
1000.43
1072.15

6362

1059.18
1144.47
1296.79
1264.98

6183

1284.52

10

167.55

10

166.76

1370.56

11

167.58

1373.34

10

169.73

10

168.91

1286.98

10

170.21

1309.05

10

174.81

1451.36

1366.21

1368.05

6630

6565

10

174.05

1296.40

11

170.95

1284.70

10

173.18

10

174.55

10

176.24

10

169.48

10

171.84

11

167.25

10

176.46

10

173.90

1245.05

11

174.02

1259.50

10

176.25

10

177.95

1261.31

10

178.80

1350.22

10

176.41

1355.00

6702

6466

1267.90
1275.24
1309.95

6547

1235.04
1216.20
1282.69

1322.00

1378.80

6628

6542

10

171.17

1287.61

11

170.33

1292.60

10

176.30

10

175.04

10

170.90

10

169.51

10

169.21

1287.00

11

163.80

1214.18

10

167.46

1304.38

10

170.19

1360.50

11

165.94

1632.84

10

176.15

1726.6

10

168.88

1625.33

180.4

10

166.06

10

169.17

1542

11

166.9

1393.40

6508

6088

1295.40
1321.13
1382.22

6235

1666.22
1703.88

7025

1513.9

10

174.73

1581.49

10

174.94

1433.92

10

179.59

1429.83

10

182.41

1499.79

10

180.05

1385.2

11

176.73

1452.94

10

183.26

1511.26

10

183.67

1391.5

10

177.8

1447.3

10

181.44

1480.8

10

180.77

1408.37

11

175.69

1456.9

10

182

1525.1

10

182.95

1424.16

11

167.68

1513.58

10

179.54

1589.8

10

178.7

1491.14

10

178.58

1568.9

10

180

1565.63

10

176.29

1414.3

11

163.15

1399.8

10

163.49

1445.9

10

164.21

1431.4

10

171.33

1470.9

10

174.9

1488.27

10

178.19

1324.2

11

172.2

Output
Sources: CISA, Qilu Securites
Estimated
China Average Daily
Output

Estimated Non-member
Average Daily Output

169.06

19.87

166.86

19.35

167.25

19.03

169.57

13.13

169.92

13.13

167.85

13.13

189.80

32.65

191.85

31.90

189.00

31.04

203.08

37.15

200.52

38.80

203.50

36.59

204.53

34.74

203.95

34.74

195.96

34.74

199.94

31.46

197.05

31.50

196.52

31.50

195.81

30.07

199.34

34.22

194.94

34.30

196.99

34.94

193.04

35.01

187.15

35.01

189.46

32.92

185.65

33.38

184.28

33.38

191.62

33.26

199.92

39.31

192.57

40.62

195.67

31.90

195.18

31.90

195.99

31.90

194.50

28.81

191.09

28.76

190.07

28.76

194.42

26.93

191.44

30.19

191.42

31.02

198.89

28.75

200.61

28.75

203.42

30.19

2012M1
2012M1
2012M1
2012M2
2012M2
2012M2
2012M3
2012M3
2012M3
2012M4
2012M4
2012M4
2012M5
2012M5
2012M5
2012M6
2012M6
2012M6
2012M7
2012M7
2012M7
2012M8
2012M8
2012M8
2012M9
2012M9
2012M9
2012M10
2012M10
2012M10
2012M11
2012M11
2012M11
2012M12
2012M12
2012M12
2013M1
2013M1
2013M1
2013M2
2013M2
2013M2

208.46

40.91

206.37

39.61

207.19

39.61

212.39

42.66

211.58

42.67

212.87

42.66

219.29

44.48

218.54

44.49

215.44

44.49

215.63

42.45

216.43

41.88

218.12

41.88

208.30

38.82

213.03

41.19

208.44

41.19

214.37

37.91

211.81

37.91

211.92

37.90

212.94

36.69

214.35

36.40

215.20

36.40

212.81

36.40

210.68

39.51

209.84

39.51

214.40

38.10

213.19

38.15

209.10

38.20

201.29

31.78

201.43

32.22

196.10

32.30

199.68

32.22

200.66

30.47

196.40

30.46

206.6

30.45

196.64

27.76

208.17

27.77

209.68

43.62

209.6

40.43

207.3

40.4

215.15

40.42

228.02

53.08

2013M3
2013M3
2013M3
2013M4
2013M4
2013M4
2013M5
2013M5
2013M5
2013M6
2013M6
2013M6
2013M7
2013M7
2013M7
2013M8
2013M8
2013M8
2013M9
2013M9
2013M9
2013M10
2013M10
2013M10
2013M11
2013M11
2013M11
2013M12
2013M12
2013M12
2014M1
2014M1
2014M1
2014M2
2014M2
2014M2
2014M3
2014M3
2014M3
2014M4
2014M4
2014M4
2014M5
2014M5
2014M5
2014M6

2014M6
2014M6
2014M7
2014M7
2014M7
2014M8
2014M8
2014M8
2014M9
2014M9
2014M9
2014M10
2014M10
2014M10
2014M11
2014M11
2014M11
2014M12
2014M12
2014M12

 Crude Steel Output

Date

()

Accumulated
Output

(%)

YoY Growth

2005-01-01

2,509.5300

24.3000

2005-02-01

5,009.0100

22.9000

2005-03-01

7,778.6000

23.8000

2005-04-01

10,593.8700

24.8000

2005-05-01

13,615.4800

27.4000

2005-06-01

16,486.3700

28.3000

2005-07-01

19,375.2800

28.1000

2005-08-01

22,484.9500

28.2000

2005-09-01

25,528.5500

27.4000

2005-10-01

28,679.2800

26.5000

2005-11-01

31,765.2800

25.5000

2005-12-01

35,323.9800

24.8600

2006-01-01

3,016.6400

16.6000

2006-02-01

5,962.8500

16.8000

2006-03-01

9,218.9900

17.6000

2006-04-01

12,624.0600

18.0000

2006-05-01

16,268.4900

18.6000

2006-06-01

19,946.9600

18.3000

2006-07-01

23,603.6500

18.9000

2006-08-01

27,250.6300

18.6000

2006-09-01

30,843.7800

18.4000

2006-10-01

34,614.0100

18.4000

2006-11-01

38,153.8500

18.4000

2006-12-01

41,878.2000

18.5000

2007-01-01

3,811.9300

26.1000

2007-02-01

7,425.4200

23.1000

2007-03-01

11,470.4100

22.3000

2007-04-01

15,509.2800

21.2000

2007-05-01

19,562.0400

20.0000

2007-06-01

23,758.0600

18.9000

2007-07-01

27,891.2500

18.5000

2007-08-01

32,052.5400

17.7000

2007-09-01

36,273.2100

17.6000

2007-10-01

40,851.8400

18.1000

2007-11-01

44,783.1800

16.7000

2007-12-01

48,924.0800

15.7000

2008-01-01

4,056.4000

5.8000

2008-02-01

7,944.7600

6.4000

2008-03-01

12,493.6300

8.6000

2008-04-01

16,977.7800

9.1000

2008-05-01

21,611.2800

9.4000

2008-06-01

26,319.4800

9.6000

2008-07-01

30,829.2000

9.3000

2008-08-01

35,109.2000

8.3000

2008-09-01

39,095.2700

6.2000

2008-10-01

42,728.8100

3.9000

2008-11-01

46,296.1900

2.6000

2008-12-01

50,048.8000

1.1000

2009-01-01

4,119.2355

0.0415

2009-02-01

8,161.4800

2.4000

2009-03-01

12,744.3500

1.4000

2009-04-01

17,066.9300

0.1000

2009-05-01

21,719.0900

0.4000

2009-06-01

26,658.2900

1.2000

2009-07-01

31,731.2900

2.9000

2009-08-01

36,965.1100

5.2000

2009-09-01

42,040.0600

7.5000

2009-10-01

47,247.3800

10.5000

2009-11-01

51,817.7300

12.1000

2009-12-01

56,784.2400

13.5000

2010-01-01

5,253.7796

28.3219

2010-02-01

10,289.2000

25.4000

2010-03-01

15,801.0000

24.5000

2010-04-01

21,386.5000

25.4000

2010-05-01

26,890.3000

23.8000

2010-06-01

32,317.2000

21.1000

2010-07-01

37,547.8000

18.2000

2010-08-01

42,577.4000

15.3000

2010-09-01

47,453.2000

12.7000

2010-10-01

52,509.5000

10.7000

2010-11-01

57,725.3000

10.1000

2010-12-01

62,665.4000

9.3000

2011-01-01

5,987.1084

15.4809

2011-02-01

11,417.8000

12.6000

2011-03-01

16,991.0000

8.7000

2011-04-01

22,971.1000

8.3000

2011-05-01

29,034.5000

8.5000

2011-06-01

35,054.3000

9.6000

2011-07-01

41,036.4000

10.3000

2011-08-01

46,928.3000

10.6000

2011-09-01

52,573.5000

10.7000

2011-10-01

58,078.7000

11.1000

2011-11-01

63,098.4000

9.8000

2011-12-01

68,326.5000

8.9000

2012-01-01

5,673.3000

-5.2413

2012-02-01

11,261.6000

2.2000

2012-03-01

17,421.8000

2.5000

2012-04-01

23,399.3000

1.9000

2012-05-01

29,626.1000

2.2000

2012-06-01

35,719.7000

1.8000

2012-07-01

41,945.8000

2.1000

2012-08-01

48,157.3000

2.3000

2012-09-01

54,234.3000

1.7000

2012-10-01

60,222.5000

2.1000

2012-11-01

66,012.5000

2.9000

2012-12-01

71,654.2000

3.1000

2013-02-01

12,545.2000

10.6000

2013-03-01

19,189.0000

9.1000

2013-04-01

25,815.2000

8.4000

2013-05-01

32,524.5000

8.0000

2013-06-01

38,987.3000

7.4000

2013-07-01

45,579.9000

7.1000

2013-08-01

52,184.2000

7.8000

2013-09-01

58,737.5000

8.0000

2013-10-01

65,248.2000

8.3000

2013-11-01

71,286.2000

7.8000

2013-12-01

77,904.1000

7.5000

2014-02-01

13,080.3000

1.7000

2014-03-01

20,269.9000

2.4000

2014-04-01

27,186.3000

2.7000

2014-05-01

34,251.8000

2.7000

2014-06-01

41,191.0000

3.0000

2014-07-01

48,076.4000

2.7000

2014-08-01

55,010.1000

2.6000

2014-09-01

61,799.7000

2.3000

2014-10-01

68,534.8000

2.1000

2014-11-01

74,866.8000

1.9000

Frontpage

 Crude Steel Output

Sources: NSB
()
Monthly
Output
2,509.5300
2,480.6400
2,754.3900
2,808.5800
2,972.9600
2,854.7400
2,924.3800
3,045.6300
3,035.7100
3,167.2900
3,047.7600
3,204.1400
3,016.6400
2,946.2100
3,288.9000
3,371.1100
3,593.4100
3,661.8800
3,609.0600
3,670.0200
3,616.1800
3,768.3900
3,795.7300
3,808.0600
3,811.9300
3,613.5100
4,015.7000
4,031.8000
4,130.3600
4,212.0600
4,125.2300
4,158.3100
4,271.2300
4,292.2000
3,969.1300
4,131.4100
4,056.4000
3,888.3600
4,486.8400
4,467.5600
4,601.2500
4,694.4400
4,488.6400

4,256.7700
3,961.4200
3,590.1200
3,518.8900
3,779.1600
4,119.2355
4,042.2400
4,510.0800
4,341.2600
4,645.9700
4,942.4700
5,067.6000
5,232.7000
5,071.0800
5,174.6900
4,726.2300
4,766.4300
5,253.7796
5,035.7000
5,496.8000
5,540.3000
5,614.3000
5,376.6000
5,174.3000
5,163.6000
4,794.5000
5,030.4000
5,017.3000
5,152.4000
5,987.1084
5,430.7000
5,941.8000
5,903.2000
6,024.5000
5,993.2000
5,930.0000
5,875.2000
5,670.0000
5,467.3000
4,988.3000
5,216.4000
5,673.3000
5,588.3000
6,158.1000
6,057.5000
6,123.4000
6,021.3000

6,169.3000
5,870.3000
5,794.6000
5,909.6000
5,747.1000
5,765.6000
-6,629.6000
6,565.0000
6,703.4000
6,466.4000
6,547.4000
6,627.6000
6,542.2000
6,507.9000
6,087.8000
6,235.3000
-7,024.7000
6,883.5000
7,043.4000
6,929.3000
6,832.4000
6,891.3000
6,754.2000
6,751.9000
6,330.3000

 Medim & Heavy Plate

1400
1200
1000
800
600
400

 Medim & Heavy Plate

1400
1200

1000
800
600
400
200
0
-200
-400

Cold-Rolled Plate
1400
1200

1000
800
600
400
200
0
-200

Rebar
1000
800
600
400
200
0
-200

 Hot-Rolled Plate
1400
1200
1000
800
600
400
200
0
-200

Frontpage

/
Date

Gross Profit of Major Steel Products (Unit: RMB/t)

Hot-Rolled
Plate

Rebar

Cold-Rolled
Plate

11/1/2002

855.3

460.9

1314.6

11/8/2002

834.7

486.4

1322.1

11/15/2002

843.9

486.7

1336.0

11/22/2002

840.3

529.6

1365.9

11/29/2002

816.8

563.5

1358.1

12/6/2002

851.8

583.2

1344.2

12/13/2002

945.8

612.8

1237.0

12/20/2002

1079.6

570.7

1093.9

12/27/2002

1120.6

519.4

1167.0

1/3/2003

1119.8

520.5

1286.1

1/10/2003

1096.2

501.7

1369.5

1/17/2003

1183.5

532.1

1385.2

1/24/2003

1203.7

576.0

1390.1

1/31/2003

1203.6

619.5

1389.1

2/7/2003

1159.6

596.1

1359.7

2/14/2003

1176.9

557.4

1402.2

2/21/2003

1153.6

530.7

1407.7

2/28/2003

1122.1

516.0

1401.0

3/7/2003

1101.2

518.6

1379.3

3/14/2003

1004.9

497.4

1380.2

3/21/2003

911.2

478.4

1358.3

3/28/2003

920.5

478.1

1226.3

4/4/2003

766.1

454.4

1168.5

4/11/2003

688.7

473.9

1081.8

4/18/2003

618.4

496.7

946.4

4/25/2003

587.3

519.9

863.2

5/2/2003

554.2

542.7

843.1

5/9/2003

542.4

590.1

876.1

5/16/2003

535.1

601.7

872.0

5/23/2003

527.3

601.5

866.2

5/30/2003

508.6

587.4

823.1

6/6/2003

501.4

639.2

773.8

6/13/2003

497.0

738.7

761.4

6/20/2003

532.3

775.7

708.6

6/27/2003

649.6

886.1

696.8

7/4/2003

722.0

1028.3

727.8

7/11/2003

759.8

938.4

809.6

7/18/2003

760.8

861.5

876.3

7/25/2003

742.6

774.1

878.7

8/1/2003

704.0

687.2

855.6

8/8/2003

677.0

628.4

841.5

8/15/2003

666.3

633.3

837.8

8/22/2003

658.6

595.4

827.3

8/29/2003

692.6

590.6

793.9

9/5/2003

737.8

587.3

773.4

9/12/2003

728.0

576.5

760.9

9/19/2003

761.0

570.4

752.0

9/26/2003

799.7

573.9

754.3

10/3/2003

803.4

573.8

797.4

10/10/2003

801.5

545.5

751.9

10/17/2003

863.0

556.4

778.8

10/24/2003

889.3

714.5

786.8

10/31/2003

927.1

829.9

743.2

11/7/2003

954.0

707.7

720.8

11/14/2003

928.4

615.4

671.3

11/21/2003

901.1

605.7

639.8

11/28/2003

899.5

667.5

618.9

12/5/2003

956.7

813.5

594.2

12/12/2003

1009.6

940.1

640.0

12/19/2003

1082.5

1142.5

680.0

12/26/2003

1109.0

1077.8

683.1

1/2/2004

1131.4

1048.5

665.6

1/9/2004

1223.1

981.2

689.8

1/16/2004

1234.3

912.9

663.3

1/23/2004

1215.3

919.6

643.0

1/30/2004

1301.1

918.2

910.8

2/6/2004

1282.0

977.3

820.8

2/13/2004

1307.0

906.2

896.7

2/20/2004

1407.2

868.8

919.4

2/27/2004

1461.3

816.4

883.9

3/5/2004

1411.4

776.8

933.8

3/12/2004

1383.7

775.3

958.1

3/19/2004

1431.3

776.7

902.6

3/26/2004

1532.7

748.6

940.6

4/2/2004

1586.6

720.3

984.2

4/9/2004

1597.5

655.0

1054.7

4/16/2004

1577.9

541.4

1032.2

4/23/2004

1530.9

411.7

1047.4

4/30/2004

1535.1

321.5

1066.1

5/7/2004

1509.5

199.3

1140.4

5/14/2004

1269.4

260.2

1204.5

5/21/2004

1093.1

485.1

1079.2

5/28/2004

1161.9

491.5

1023.9

6/4/2004

1052.4

606.7

981.8

6/11/2004

1042.2

736.6

993.1

6/18/2004

1060.7

556.1

1080.2

6/25/2004

1141.6

545.6

1091.7

7/2/2004

1190.2

556.7

1104.7

7/9/2004

1152.5

566.7

1075.3

7/16/2004

1156.4

655.4

1100.4

7/23/2004

1249.4

847.3

1141.4

7/30/2004

1283.3

735.8

1169.8

8/6/2004

1377.0

568.0

1185.8

8/13/2004

1407.4

629.6

1204.9

8/20/2004

1420.9

561.6

1209.9

8/27/2004

1447.9

606.3

1243.8

9/3/2004

1487.0

595.5

1265.4

9/10/2004

1520.3

532.9

1303.9

9/17/2004

1516.0

510.8

1322.5

9/24/2004

1487.3

511.1

1333.3

10/1/2004

1484.4

515.3

1303.9

10/8/2004

1492.5

527.2

1293.2

10/15/2004

1474.4

534.6

1320.9

10/22/2004

1431.3

560.6

1339.3

10/29/2004

1430.1

577.9

1352.3

11/5/2004

1465.9

566.4

1353.4

11/12/2004

1534.6

538.9

1381.7

11/19/2004

1546.3

478.9

1404.4

11/26/2004

1552.9

453.6

1413.3

12/3/2004

1622.0

430.9

1461.6

12/10/2004

1677.9

443.6

1526.5

12/17/2004

1729.5

480.4

1561.4

12/24/2004

1750.0

472.8

1656.9

12/31/2004

1756.1

497.9

1774.1

1/7/2005

1764.7

538.6

1871.8

1/14/2005

1774.2

574.9

1987.3

1/21/2005

1772.0

557.6

2156.7

1/28/2005

1763.8

527.3

2216.0

2/4/2005

1748.7

491.2

2197.5

2/11/2005

1743.2

526.5

2196.3

2/18/2005

1744.5

474.6

2195.7

2/25/2005

1773.5

490.1

2305.0

3/4/2005

1832.3

710.7

2349.2

3/11/2005

1970.4

669.6

2393.5

3/18/2005

2087.8

595.1

2403.4

3/25/2005

2090.8

616.6

2464.2

4/1/2005

2016.4

408.3

2403.9

4/8/2005

1935.5

379.1

2354.1

4/15/2005

1899.8

328.4

2224.1

4/22/2005

1890.8

406.0

2146.3

4/29/2005

1922.9

426.0

2160.2

5/6/2005

1859.4

354.9

2031.5

5/13/2005

1844.9

300.9

2045.1

5/20/2005

1727.0

296.8

2053.2

5/27/2005

1656.2

225.3

1999.6

6/3/2005

1511.6

199.0

1952.4

6/10/2005

1186.0

219.6

1854.1

6/17/2005

1138.2

188.7

1628.3

6/24/2005

879.2

271.1

1586.7

7/1/2005

664.2

457.1

1583.2

7/8/2005

940.9

438.2

1623.4

7/15/2005

793.5

492.6

1617.5

7/22/2005

856.4

485.9

1587.2

7/29/2005

865.8

497.7

1545.0

8/5/2005

896.5

482.3

1533.7

8/12/2005

921.0

440.9

1512.9

8/19/2005

906.4

387.8

1510.1

8/26/2005

908.6

357.8

1522.2

9/2/2005

912.3

376.4

1486.8

9/9/2005

912.5

368.0

1402.2

9/16/2005

856.2

330.5

1325.8

9/23/2005

852.3

335.1

1248.7

9/30/2005

732.2

305.1

1195.4

10/7/2005

716.5

192.5

1151.8

10/14/2005

678.7

188.1

1086.5

10/21/2005

472.5

272.9

970.1

10/28/2005

516.8

330.5

819.0

11/4/2005

545.2

281.6

753.8

11/11/2005

424.0

288.8

726.4

11/18/2005

365.4

284.6

599.3

11/25/2005

322.0

313.3

426.4

12/2/2005

269.5

383.7

266.7

12/9/2005

251.7

393.9

257.9

12/16/2005

231.1

371.1

341.1

12/23/2005

257.2

343.2

384.6

12/30/2005

269.8

330.8

418.1

1/6/2006

266.5

295.7

489.0

1/13/2006

321.1

289.3

568.5

1/20/2006

417.0

320.6

589.9

1/27/2006

457.2

352.8

607.0

2/3/2006

472.1

338.9

698.3

2/10/2006

545.2

333.3

719.2

2/17/2006

680.0

294.5

808.2

2/24/2006

771.4

299.7

854.6

3/3/2006

935.4

385.3

1073.0

3/10/2006

1103.2

330.7

1259.2

3/17/2006

1082.0

299.8

1183.6

3/24/2006

1098.1

329.9

1092.5

3/31/2006

1151.4

406.6

1105.1

4/7/2006

1168.4

352.3

1017.3

4/14/2006

1174.2

311.8

1009.7

4/21/2006

1190.8

318.2

953.7

4/28/2006

1204.9

343.6

938.2

5/5/2006

1188.3

368.1

933.1

5/12/2006

1191.1

501.2

951.4

5/19/2006

1230.6

516.8

954.2

5/26/2006

1313.0

550.9

1039.2

6/2/2006

1479.9

556.9

1081.8

6/9/2006

1665.9

415.1

1102.6

6/16/2006

1707.3

291.0

1069.6

6/23/2006

1688.7

237.1

1073.6

6/30/2006

1515.1

184.7

1060.8

7/7/2006

1405.7

182.3

1028.2

7/14/2006

1156.9

205.5

884.2

7/21/2006

1097.8

225.7

727.0

7/28/2006

1043.5

251.2

683.8

8/4/2006

1008.5

213.1

692.8

8/11/2006

1008.4

230.1

687.7

8/18/2006

1002.8

243.1

640.2

8/25/2006

1001.3

247.8

585.4

9/1/2006

1040.9

235.0

522.7

9/8/2006

1067.0

237.7

544.0

9/15/2006

1057.2

246.3

598.6

9/22/2006

1073.0

264.4

684.2

9/29/2006

1082.0

257.0

695.5

10/6/2006

1081.2

226.5

721.5

10/13/2006

1089.2

188.4

727.1

10/20/2006

1084.9

189.5

655.2

10/27/2006

1015.8

250.1

622.0

11/3/2006

883.9

261.0

595.3

11/10/2006

844.1

254.5

601.5

11/17/2006

829.7

247.3

605.9

11/24/2006

757.1

254.7

613.6

12/1/2006

767.9

252.2

613.1

12/8/2006

827.2

263.3

721.0

12/15/2006

829.8

257.5

766.8

12/22/2006

824.9

251.3

831.7

12/29/2006

883.8

269.3

867.9

1/5/2007

950.4

281.3

861.3

1/12/2007

1023.5

301.0

877.2

1/19/2007

1034.9

352.6

853.4

1/26/2007

1108.6

366.5

785.9

2/2/2007

1124.1

343.9

740.8

2/9/2007

1181.8

330.9

749.1

2/16/2007

1210.8

334.0

755.7

2/23/2007

1206.8

337.1

752.8

3/2/2007

1217.6

291.3

757.0

3/9/2007

1227.5

272.1

760.0

3/16/2007

1196.9

272.8

704.6

3/23/2007

1112.7

263.2

681.4

3/30/2007

1064.5

251.2

637.0

4/6/2007

1075.2

287.0

600.2

4/13/2007

1080.0

343.6

596.0

4/20/2007

1062.2

333.8

594.9

4/27/2007

1033.8

419.9

609.4

5/4/2007

964.4

362.4

566.4

5/11/2007

941.2

243.9

588.0

5/18/2007

941.3

158.1

536.4

5/25/2007

951.9

153.8

512.5

6/1/2007

965.6

153.7

468.2

6/8/2007

918.8

204.8

482.2

6/15/2007

792.2

242.9

514.9

6/22/2007

742.3

241.1

456.4

6/29/2007

733.6

259.6

417.0

7/6/2007

729.3

274.4

407.1

7/13/2007

706.2

362.4

384.6

7/20/2007

700.4

427.9

375.5

7/27/2007

641.1

384.5

386.1

8/3/2007

661.8

354.6

364.7

8/10/2007

620.1

448.2

392.3

8/17/2007

603.2

479.1

407.9

8/24/2007

661.6

608.3

442.3

8/31/2007

703.5

496.3

429.6

9/7/2007

681.3

307.3

370.2

9/14/2007

825.6

308.8

490.8

9/21/2007

722.1

331.6

577.0

9/28/2007

639.0

306.1

539.8

10/5/2007

596.1

275.1

507.6

10/12/2007

550.4

277.3

458.4

10/19/2007

530.3

297.0

381.1

10/26/2007

529.5

496.3

330.8

11/2/2007

510.6

450.2

289.0

11/9/2007

623.6

546.9

231.9

11/16/2007

640.4

714.0

231.5

11/23/2007

654.2

673.8

248.9

11/30/2007

634.4

500.0

271.5

12/7/2007

731.6

294.8

311.5

12/14/2007

760.1

333.5

347.6

12/21/2007

797.9

371.4

385.0

12/28/2007

813.4

329.5

402.5

1/4/2008

843.7

253.5

333.7

1/11/2008

872.1

264.5

446.7

1/18/2008

919.2

320.6

545.5

1/25/2008

941.1

378.0

577.7

2/1/2008

897.8

598.5

554.1

2/8/2008

893.9

682.2

551.3

2/15/2008

908.7

738.0

549.1

2/22/2008

937.5

553.1

739.1

2/29/2008

952.4

377.3

890.7

3/7/2008

974.1

306.8

847.4

3/14/2008

930.3

434.1

838.2

3/21/2008

878.5

506.6

876.7

3/28/2008

876.5

507.0

880.3

4/4/2008

724.2

410.5

762.6

4/11/2008

770.3

633.7

760.4

4/18/2008

777.2

714.5

785.8

4/25/2008

752.2

666.6

779.5

5/2/2008

819.7

523.3

816.8

5/9/2008

834.9

417.0

838.5

5/16/2008

868.8

464.9

965.5

5/23/2008

884.8

455.6

1022.8

5/30/2008

888.0

326.7

1010.5

6/6/2008

943.4

229.4

1043.4

6/13/2008

958.4

209.7

1121.5

6/20/2008

976.5

274.3

1075.6

6/27/2008

964.1

260.0

998.4

7/4/2008

895.9

145.5

931.0

7/11/2008

933.4

122.7

888.6

7/18/2008

995.3

66.9

783.3

8/1/2008

905.3

37.5

697.8

8/8/2008

978.7

44.0

557.1

8/15/2008

905.5

-92.9

393.8

8/22/2008

819.2

87.5

259.4

8/29/2008

805.1

147.8

292.5

9/5/2008

846.6

101.0

435.9

9/12/2008

952.0

149.7

605.6

9/19/2008

706.9

426.1

687.8

9/26/2008

463.7

425.8

674.9

10/10/2008

303.5

364.5

493.2

10/17/2008

55.6

-126.3

151.9

10/24/2008

168.7

205.5

265.3

10/31/2008

86.3

201.7

222.7

11/7/2008

107.3

233.0

51.8

11/14/2008

260.3

418.5

45.6

11/21/2008

356.6

401.9

56.3

11/28/2008

474.7

434.0

147.4

12/5/2008

448.8

395.6

211.2

12/12/2008

450.6

401.0

224.0

12/19/2008

411.7

335.6

151.7

12/26/2008

396.4

261.4

170.1

12/31/2008

520.5

267.9

208.6

1/9/2009

641.1

301.7

148.2

1/16/2009

660.2

332.1

152.6

1/23/2009

680.5

332.6

195.9

2/6/2009

605.2

313.3

111.2

2/13/2009

511.9

276.7

57.9

2/20/2009

306.8

183.0

-22.2

2/27/2009

244.8

87.4

-40.8

3/6/2009

224.2

108.3

20.6

3/13/2009

219.1

163.0

82.0

3/20/2009

240.2

113.4

138.4

3/27/2009

208.4

114.2

115.0

4/3/2009

216.4

217.3

214.4

4/10/2009

173.0

226.0

203.7

4/17/2009

118.4

265.2

195.1

4/24/2009

181.4

284.3

222.7

4/30/2009

234.4

318.4

231.8

5/8/2009

230.9

304.7

221.5

5/15/2009

315.0

363.5

248.8

5/22/2009

362.7

389.6

348.2

5/27/2009

318.6

385.7

348.2

6/5/2009

349.0

403.8

354.0

6/12/2009

409.9

389.9

396.1

6/19/2009

422.1

383.6

434.6

6/26/2009

461.3

483.0

482.8

7/3/2009

489.0

469.3

501.6

7/10/2009

487.3

548.2

461.8

7/17/2009

513.4

568.1

560.0

7/24/2009

612.4

570.0

721.6

7/31/2009

645.6

659.1

720.3

8/7/2009

743.5

870.5

921.5

8/14/2009

698.9

625.2

903.2

8/21/2009

518.2

543.1

689.0

8/28/2009

479.4

403.7

668.4

9/4/2009

431.5

334.4

636.1

9/11/2009

433.8

326.6

634.9

9/18/2009

375.9

334.5

683.7

9/25/2009

305.5

336.9

701.8

10/9/2009

231.8

231.3

663.1

10/16/2009

206.2

182.2

637.0

10/23/2009

303.0

261.7

618.7

10/30/2009

408.4

352.9

659.2

11/6/2009

358.7

339.7

689.7

11/13/2009

384.8

374.9

720.4

11/20/2009

402.1

292.4

751.1

11/27/2009

450.1

311.5

875.4

12/4/2009

409.8

295.9

887.3

12/11/2009

428.3

300.8

913.3

12/18/2009

425.3

305.6

1064.9

12/25/2009

442.1

297.3

1185.2

12/31/2009

456.6

316.3

1226.4

1/8/2010

412.8

316.5

1166.5

1/15/2010

383.2

264.4

1136.0

1/22/2010

325.4

246.2

1085.5

1/29/2010

288.2

214.9

1030.5

2/5/2010

312.1

242.4

1041.6

2/12/2010

326.4

255.9

1042.6

2/26/2010

368.6

228.4

1108.6

3/5/2010

396.0

197.3

1151.0

3/12/2010

452.4

196.6

1186.9

3/19/2010

539.3

269.9

1228.4

3/26/2010

587.3

309.3

1217.5

4/2/2010

350.9

156.8

991.7

4/9/2010

392.0

188.3

943.3

4/16/2010

483.7

211.6

898.5

4/23/2010

493.7

177.8

908.6

4/30/2010

538.2

229.8

909.6

5/7/2010

524.0

165.8

878.8

5/14/2010

482.7

128.2

919.6

5/21/2010

342.0

13.5

968.6

5/28/2010

346.3

14.2

889.4

6/4/2010

349.6

-28.5

845.0

6/11/2010

348.1

-32.8

773.3

6/18/2010

393.7

-2.1

647.5

6/25/2010

447.2

64.5

627.6

7/2/2010

370.6

6.9

462.8

7/9/2010

312.8

-52.4

372.9

7/16/2010

197.7

-143.5

264.5

7/23/2010

256.0

-102.7

281.3

7/30/2010

365.8

-78.0

337.2

8/6/2010

351.7

-8.6

378.4

8/13/2010

296.3

-11.6

375.8

8/20/2010

317.1

10.6

366.6

8/27/2010

263.7

-8.2

306.2

9/3/2010

279.1

43.4

256.9

9/10/2010

390.6

231.8

278.5

9/17/2010

359.6

249.1

290.7

9/24/2010

321.4

199.2

283.3

9/30/2010

270.6

152.7

260.0

10/15/2010

291.3

161.3

247.8

10/22/2010

296.9

173.4

249.3

10/29/2010

298.8

170.6

249.1

11/5/2010

266.8

199.8

220.0

11/12/2010

260.8

352.3

246.8

11/19/2010

276.7

341.0

257.5

11/26/2010

275.7

392.6

258.4

12/3/2010

271.5

384.8

259.1

12/10/2010

289.3

397.9

244.9

12/17/2010

332.1

401.4

246.9

12/24/2010

368.6

366.8

260.8

12/31/2010

397.6

355.9

268.6

1/7/2011

361.3

280.8

222.9

1/14/2011

396.7

293.7

227.4

1/21/2011

395.7

264.4

232.3

1/28/2011

499.2

309.0

215.1

2/11/2011

543.4

319.8

174.7

2/18/2011

514.6

395.4

216.2

2/25/2011

482.9

378.5

242.1

3/4/2011

462.1

376.2

277.2

3/11/2011

414.4

336.8

287.3

3/18/2011

397.8

304.4

264.7

3/25/2011

425.4

265.1

241.8

4/1/2011

334.5

152.5

118.7

4/8/2011

339.4

141.7

106.1

4/15/2011

374.9

194.9

93.3

4/22/2011

444.7

245.1

136.4

4/29/2011

463.4

277.4

124.8

5/6/2011

483.0

363.9

115.5

5/13/2011

449.1

368.9

130.4

5/20/2011

435.9

382.3

141.3

5/27/2011

435.5

382.7

117.8

6/3/2011

438.2

414.2

102.5

6/10/2011

434.9

422.3

93.5

6/17/2011

412.8

377.2

48.2

6/24/2011

390.3

273.2

17.8

7/1/2011

409.4

295.8

-0.5

7/8/2011

396.6

311.9

-22.4

7/15/2011

379.4

305.1

-21.5

7/22/2011

389.4

310.0

-11.2

7/29/2011

347.4

294.3

-11.7

8/5/2011

333.7

329.9

-4.6

8/12/2011

334.5

300.1

22.4

8/19/2011

364.2

306.1

12.4

8/26/2011

329.3

259.1

6.7

9/2/2011

311.5

214.9

-5.1

9/9/2011

303.8

196.7

5.4

9/16/2011

304.8

211.8

70.0

9/23/2011

314.5

206.4

139.9

9/30/2011

327.4

117.9

121.4

10/14/2011

299.4

97.1

119.7

10/21/2011

245.7

131.7

190.7

10/28/2011

193.1

140.7

171.6

11/4/2011

203.1

120.9

174.9

11/11/2011

176.2

104.0

167.8

11/18/2011

166.4

137.9

157.5

11/25/2011

152.5

157.4

175.4

12/2/2011

130.5

138.8

169.5

12/9/2011

152.9

178.1

147.0

12/16/2011

173.6

176.4

137.8

12/23/2011

194.3

187.8

148.6

12/30/2011

199.5

170.3

161.8

1/6/2012

258.3

192.1

203.1

1/13/2012

275.0

183.8

188.1

1/20/2012

260.5

136.8

169.6

2/3/2012

290.9

158.4

174.8

2/10/2012

294.0

165.1

217.8

2/17/2012

277.1

101.8

262.6

2/24/2012

266.4

25.8

253.8

3/2/2012

252.5

32.3

246.0

3/9/2012

245.9

65.7

244.8

3/16/2012

277.7

120.8

244.2

3/23/2012

281.9

135.9

246.1

3/30/2012

275.1

160.7

240.5

4/6/2012

330.4

232.1

269.8

4/13/2012

376.0

266.2

271.2

4/20/2012

420.6

284.5

263.3

4/27/2012

466.2

279.2

256.1

5/4/2012

469.3

267.9

249.3

5/11/2012

452.7

256.9

261.7

5/18/2012

462.3

214.0

256.6

5/25/2012

471.2

223.3

243.0

6/1/2012

464.8

206.1

193.8

6/8/2012

458.2

194.5

115.3

6/15/2012

475.5

214.3

53.4

6/22/2012

450.2

201.9

48.1

6/29/2012

410.6

181.5

32.2

7/6/2012

366.1

157.3

-3.5

7/13/2012

323.7

112.5

9.9

7/20/2012

286.8

80.1

52.4

7/27/2012

185.2

21.2

116.3

8/3/2012

187.3

82.6

140.9

8/10/2012

145.7

56.4

145.4

8/17/2012

139.0

105.2

162.0

8/24/2012

85.1

114.1

156.1

8/31/2012

100.5

129.9

152.7

9/7/2012

66.1

185.5

169.9

9/14/2012

51.1

150.7

135.4

9/21/2012

181.5

239.3

120.3

9/28/2012

175.5

289.3

158.1

10/12/2012

344.5

386.1

176.5

10/19/2012

394.7

337.5

191.3

10/26/2012

383.3

313.7

160.8

11/2/2012

356.7

270.4

102.3

11/9/2012

411.3

288.6

86.9

11/16/2012

519.4

269.4

48.2

11/23/2012

517.9

214.9

69.9

11/30/2012

518.4

154.0

94.3

12/7/2012

560.3

172.0

157.3

12/14/2012

504.1

137.1

101.2

12/21/2012

526.9

131.7

82.0

12/28/2012

582.3

118.8

75.8

1/4/2013

350.5

8.3

10.9

1/11/2013

278.4

-18.8

-52.6

1/18/2013

359.8

29.6

28.7

1/25/2013

313.0

20.2

82.9

2/1/2013

295.6

-5.9

84.1

2/8/2013

315.3

-37.7

45.1

2/22/2013

268.2

50.0

78.5

3/1/2013

218.4

126.3

198.6

3/8/2013

215.0

91.0

224.4

3/15/2013

218.6

51.3

296.5

3/22/2013

273.4

103.8

326.1

3/29/2013

248.0

90.2

296.1

4/5/2013

182.2

79.4

287.7

4/12/2013

226.6

86.5

238.1

4/19/2013

192.2

72.6

291.0

4/26/2013

173.3

55.7

296.3

5/3/2013

149.5

72.6

327.3

5/10/2013

145.3

100.8

323.6

5/17/2013

162.0

149.3

309.1

5/24/2013

116.9

143.5

325.4

5/31/2013

145

136.0

368.3

6/7/2013

197

109.3

339.9

6/14/2013

231

101.2

340.1

6/21/2013

194

70.2

292.6

6/28/2013

237

125.7

300.5

7/5/2013

195

107.1

251.5

7/12/2013

208

126.5

217.2

7/19/2013

206

158.6

171.1

7/26/2013

196

191.6

161.3

8/2/2013

193

157.2

183.6

8/9/2013

178

151.8

173.8

8/16/2013

118

118.9

112.8

8/23/2013

108

137.1

153.4

8/30/2013

88

107.6

160.5

9/6/2013

109

109.8

157.2

9/13/2013

106

118.1

147.3

9/20/2013

102

128.8

168.8

9/27/2013

102

126.8

152.8

10/11/2013

74

130.3

130.3

10/18/2013

49

123.4

112.1

10/25/2013

29

120.5

102.3

11/1/2013

-1

135.9

96.3

11/8/2013

-2

172.5

48.5

11/15/2013

13

260.4

42.8

11/22/2013

-8

243.2

28.0

11/29/2013

-9

260.9

18.3

12/6/2013

-10

253.2

-34.2

12/13/2013

254.1

-36.3

12/20/2013

50

268.0

-23.9

12/27/2013

72

197.1

-23.3

1/3/2014

63

122.5

-34.8

1/10/2014

91

80.8

-16.6

1/17/2014

109

96.2

2.2

1/24/2014

134

141.6

60.5

1/31/2014

143

149.5

69.3

2/7/2014

151

157.3

74.1

2/14/2014

141

137.6

93.8

2/21/2014

137

86.1

72.2

2/28/2014

188

92.9

92.7

3/7/2014

224.0

88

108

3/14/2014

241.4

137

146

3/21/2014

235.8

175

126

3/28/2014

235.3

182

111

4/4/2014

190.2

179

76

4/11/2014

215.3

239

70

4/18/2014

223.2

260

78

4/25/2014

209.8

223

102

5/2/2014

241.2

251

127

5/9/2014

273.1

238

143

5/16/2014

305.3

211

140

5/23/2014

351.2

200

157

5/30/2014

408.0

232

156

6/6/2014

449.5

233

160

6/13/2014

468.0

253

160

6/20/2014

491.0

277

165

6/27/2014

474.2

259

143

7/4/2014

462.6

246

124

7/11/2014

468.1

268

116

7/18/2014

456.8

298

106

7/25/2014

485.4

312

124

8/1/2014

480.7

285

121

8/8/2014

451.9

290

136

8/15/2014

427.9

271

158

8/22/2014

394

233

189

8/29/2014

385

219

227

9/5/2014

371

201

254

9/12/2014

315

185

297

9/19/2014

310

219

290

9/26/2014

287

200

305

10/3/2014

295

211

305

10/10/2014

268

214

295

10/17/2014

269

239

233

10/24/2014

257

306

248

10/31/2014

272

320

233

11/7/2014

276

347

247

11/14/2014

281

353

238

11/21/2014

330

337

234

11/28/2014

358

323

235

12/5/2014

361

299

210

12/12/2014

385

277

213

12/19/2014

435

278

164

12/26/2014

454

281

183

12/31/2014

433

246

177

1/9/2015

439

257

170

roducts (Unit: RMB/t)

Medium
& Heavy Plate
693.0
687.8
683.0
672.4
660.5
688.7
838.5
924.5
1030.3
1086.0
1075.7
1037.6
1115.1
1122.6
1076.7
1137.3
1144.9
1130.7
1118.0
1094.8
1022.7
1020.1
964.3
925.1
918.3
920.7
889.3
887.9
904.8
902.0
909.7
921.9
963.1
1015.9
1099.1
1173.0
1192.0
1166.3
1173.0
1178.6
1112.3
1071.9
1007.2

: Sources: Qilu Securities

967.5
946.7
948.7
900.4
905.7
903.8
896.2
880.3
944.6
916.1
926.6
940.2
899.2
878.1
886.2
922.2
960.3
1024.8
1100.6
1128.2
1096.0
1067.8
1102.3
1094.8
1150.7
1218.6
1268.2
1307.5
1323.2
1311.9
1390.1
1477.4
1518.3
1489.0
1488.1
1438.7
1522.4
1492.8
1123.3
1105.8
1017.4
952.2
1022.5
1083.0
1113.9
1067.4
1035.0

1062.2
1180.7
1289.3
1282.0
1236.2
1256.5
1278.3
1337.7
1323.7
1286.5
1262.4
1252.3
1207.3
1158.6
1114.7
1083.5
1100.8
1103.7
1099.4
1093.1
1101.5
1137.2
1179.1
1211.7
1250.4
1265.7
1285.2
1277.2
1253.5
1248.4
1230.1
1207.0
1219.4
1291.1
1394.1
1399.0
1330.4
1347.4
1338.4
1255.8
1286.7
1184.7
1202.8
1216.2
1210.3
1219.8
1164.3

978.2
880.6
719.6
782.0
764.1
725.9
677.0
659.9
625.0
562.6
534.8
501.7
447.1
360.2
291.4
188.2
154.5
39.5
-80.5
-53.8
224.5
129.9
125.0
181.0
183.7
181.2
172.8
167.8
130.8
119.5
107.4
76.8
88.0
85.8
101.2
154.8
179.9
266.4
410.7
428.8
436.6
509.9
555.8
605.3
594.5
623.8
609.8

707.5
755.5
794.0
1017.7
1215.3
1214.5
1169.7
1086.7
940.6
692.2
464.3
371.3
493.9
473.3
466.3
465.3
501.2
536.1
540.7
554.5
558.5
582.1
585.3
541.6
496.4
463.4
475.4
471.6
465.6
475.1
521.0
525.2
523.4
586.4
730.7
790.2
742.1
712.9
718.0
729.0
732.5
753.9
780.4
785.3
760.1
737.2
788.0

755.3
758.1
736.8
729.9
656.2
726.0
700.2
624.5
672.2
667.6
648.2
589.3
596.5
649.6
671.3
690.9
660.3
689.0
732.1
789.8
841.2
819.5
733.0
839.6
823.1
794.2
747.3
729.2
667.9
636.4
634.2
582.1
575.9
590.2
599.1
634.5
665.5
661.1
677.1
628.5
701.4
776.5
813.6
804.5
829.9
820.1
948.1

1084.1
1103.8
1140.3
1165.6
1184.9
1012.6
1045.2
1074.7
1030.0
1074.1
1092.9
1177.5
1227.5
1235.9
1222.6
1247.2
1225.4
1158.5
1036.1
1035.3
1001.4
939.5
903.6
820.5
796.2
833.2
873.3
1010.9
951.8
866.0
845.6
545.3
725.7
711.9
482.5
443.8
380.8
409.7
342.4
336.8
304.8
233.9
224.3
126.7
149.6
144.6
196.8

211.7
164.8
48.0
95.3
104.3
140.3
108.4
220.0
216.7
198.8
182.1
191.0
156.3
133.6
144.4
126.0
91.8
48.4
52.0
103.9
130.4
98.6
98.8
202.4
234.0
458.1
462.8
270.7
221.3
195.4
147.6
103.1
46.1
-3.4
-21.0
-8.6
105.6
73.2
88.5
68.0
126.4
117.4
145.5
162.4
168.1
218.9
178.3

179.3
179.6
154.8
162.1
169.3
184.9
197.3
246.9
338.6
426.8
241.8
253.1
267.0
299.2
368.3
335.9
335.0
254.1
185.7
149.4
68.7
80.4
126.6
56.1
-41.1
-164.5
-117.2
-7.7
89.1
68.0
67.8
38.7
38.7
121.2
163.2
123.2
64.5
95.2
114.7
88.4
40.6
71.8
89.8
90.8
75.1
80.4
116.9

163.7
198.5
151.0
195.9
241.4
310.9
290.8
345.1
347.0
359.6
305.1
209.8
199.8
72.5
74.4
127.1
198.9
226.5
250.3
257.1
240.7
224.7
236.2
232.7
208.5
197.1
177.2
121.2
93.4
92.9
72.4
65.7
72.4
67.2
34.3
10.6
2.5
31.5
83.2
69.8
30.9
47.1
5.1
-26.5
-83.9
-108.1
-96.2

-115.1
-116.2
-106.1
-83.0
-68.3
-4.6
11.3
-8.1
6.9
12.5
33.2
36.4
35.9
38.0
52.1
80.4
98.9
167.6
196.5
213.1
222.0
211.9
193.3
124.9
105.7
50.3
15.2
10.0
-16.2
-45.2
-72.9
-104.8
-147.8
-205.6
-216.2
-249.3
-226.3
-220.1
-188.7
-212.0
-203.6
-86.9
-108.2
-55.0
-84.1
-122.9
-148.3

-53.4
22.0
38.3
22.3
80.3
24.7
16.9
7.8
-136.0
-193.6
-58.1
-59.1
-57.7
-86.3
-46.2
-13.7
10.1
37.3
97.4
84.9
72.0
50.5
32.4
15.3
32.0
23.9
30.1
16.2
65.9
56.7
67.3
26.0
65.9
17.6
29.1
24.6
7.7
21.2
4.1
-84.7
-67.7
-83.1
-74.9
-80.0
-80.9
-100.8
-143.3

-177.0
-206.2
-215.3
-253.4
-249.2
-252.2
-252.6
-281.7
-255.1
-184.7
-124.9
-119.4
-89.3
-54.5
-5.5
1.9
9.6
16.0
-1.2
57.2
95.0
147.7
142.0
138.4
86.6
86.7
96.4
124.0
160.7
172.9
180.5
197.4
198.5
213.1
222.9
204.2
151.3
112.1
104.0
90.8
119.3
121.5
128.3
138.4
147.1
169.3
165.0

157.9
157.0
61.3
47.5
9.9
-9.9
0.9
-1.1
7.0
13.5
39.4
63.6
68.6
117.7
177.3
209.1
160.4
125.1

China Steel Traders' Inventories

(000 mt)
Long Steel
rebar
wire rod
Week ending:
12/10/2010
4,166
988
12/17/2010
4,167
1,021
12/24/2010
4,311
1,098
12/31/2010
4,413
1,166
1/7/2011
4,586
1,257
1/14/2011
4,751
1,373
1/21/2011
4,906
1,447
1/28/2011
5,318
1,646
2/11/2011
6,689
2,158
2/18/2011
7,373
2,386
2/25/2011
7,619
2,496
3/4/2011
7,737
2,584
3/11/2011
7,628
2,498
3/18/2011
7,429
2,406
3/25/2011
7,306
2,376
4/1/2011
7,017
2,236
4/8/2011
6,847
2,133
4/15/2011
6,614
2,038
4/22/2011
6,372
1,930
4/29/2011
6,101
1,804
5/6/2011
6,077
1,724
5/13/2011
5,987
1,653
5/20/2011
5,835
1,584
5/27/2011
5,623
1,492
6/3/2011
5,471
1,438
6/10/2011
5,497
1,400
6/17/2011
5,490
1,354
6/24/2011
5,503
1,303
7/1/2011
5,493
1,279
7/8/2011
5,454
1,231
7/15/2011
5,319
1,190
7/22/2011
5,326
1,137
7/29/2011
5,326
1,102
8/5/2011
5,400
1,067
8/12/2011
5,347
1,036
8/19/2011
5,325
996
8/26/2011
5,431
1,037
9/2/2011
5,499
1,065
9/9/2011
5,546
1,074
9/16/2011
5,679
1,151
9/23/2011
5,769
1,185
9/30/2011
5,819
1,203
10/7/2011
6,143
1,343
10/14/2011
6,122
1,305

10/21/2011
10/28/2011
11/4/2011
11/11/2011
11/18/2011
11/25/2011
12/2/2011
12/9/2011
12/16/2011
12/23/2011
12/30/2011
1/6/2012
1/13/2012
1/20/2012
1/27/2012
2/3/2012
2/10/2012
2/17/2012
2/24/2012
3/2/2012
3/9/2012
3/16/2012
3/23/2012
3/30/2012
4/6/2012
4/13/2012
4/20/2012
4/27/2012
5/4/2012
5/11/2012
5/18/2012
5/25/2012
6/1/2012
6/8/2012
6/15/2012
6/21/2012
6/29/2012
7/6/2012
7/13/2012
7/20/2012
7/27/2012
8/3/2012
8/10/2012
8/17/2012
8/24/2012
8/31/2012
9/7/2012

5,933
5,661
5,388
5,139
4,982
4,922
4,836
4,859
4,836
4,744
4,867
5,172
5,443
5,824
6,659
7,427
8,106
8,495
8,448
8,472
8,388
8,253
8,148
8,065
8,049
7,837
7,648
7,513
7,368
7,286
7,125
6,907
6,825
6,774
6,705
6,668
6,713
6,725
6,723
6,708
6,621
6,507
6,414
6,198
6,030
5,905
5,911

1,272
1,121
993
915
906
912
905
972
1,009
1,066
1,121
1,211
1,317
1,475
1,778
2,153
2,404
2,504
2,515
2,441
2,391
2,323
2,269
2,189
2,170
2,136
2,047
2,036
1,990
1,964
1,930
1,860
1,833
1,788
1,762
1,765
1,776
1,765
1,722
1,771
1,734
1,674
1,611
1,498
1,476
1,394
1,348

9/14/2012
9/21/2012
9/28/2012
10/8/2012
10/12/2012
10/19/2012
10/26/2012
11/2/2012
11/9/2012
11/16/2012
11/23/2012
11/30/2012
12/7/2012
12/14/2012
12/21/2012
12/28/2012
1/4/2013
1/11/2013
1/18/2013
1/25/2013
2/1/2013
2/17/2013
2/22/2013
3/1/2013
3/8/2013
3/15/2013
3/22/2013
3/29/2013
4/5/2013
4/12/2013
4/19/2013
4/26/2013
5/3/2013
5/10/2013
5/17/2013
5/24/2013
5/31/2013
6/7/2013
6/14/2013
6/21/2013
6/28/2013
7/5/2013
7/12/2013
7/19/2013
7/26/2013
8/2/2013
8/9/2013

5,586
5,299
4,989
5,586
5,315
5,053
4,900
4,927
4,893
4,899
4,886
4,984
5,038
5,046
5,099
5,200
5,859
6,065
6,319
6,621
7,060
7,472
9,621
10,345
10,798
10,949
10,795
10,713
10,487
10,278
9,951
9,552
9,399
9,143
8,744
8,442
8,124
7,969
7,840
7,626
7,416
7,178
7,033
6,780
6,548
6,500
6,332

1,280
1,171
1,062
1,262
1,210
1,159
1,137
1,149
1,155
1,189
1,188
1,210
1,248
1,208
1,230
1,234
1,391
1,498
1,542
1,614
1,772
1,864
2,764
3,164
3,302
3,374
3,212
3,129
3,049
2,954
2,831
2,712
2,651
2,590
2,493
2,369
2,266
2,165
2,112
2,025
1,952
1,870
1,762
1,634
1,539
1,470
1,461

8/16/2013
8/23/2013
8/30/2013
9/6/2013
9/13/2013
9/20/2013
9/27/2013
10/8/2013
10/11/2013
10/18/2013
10/25/2013
11/1/2013
11/8/2013
11/15/2013
11/22/2013
11/29/2013
12/6/2013
12/13/2013
12/20/2013
12/27/2013
1/3/2014
1/10/2014
1/17/2014
1/24/2014
2/7/2014
2/14/2014
2/21/2014
2/28/2014
3/7/2014
3/14/2014
3/21/2014
3/28/2014
4/4/2014
4/11/2014
4/18/2014
4/25/2014
5/2/2014
5/9/2014
5/16/2014
5/23/2014
5/30/2014
6/6/2014
6/13/2014
6/20/2014
6/27/2014
7/4/2014
7/11/2014

6,235
6,207
6,068
5,957
5,970
6,081
5,980
6,180
6,064
5,807
5,647
5,464
5,276
5,235
5,114
5,151
5,163
5,086
5,155
5,284
5,413
5,689
6,210
6,872
8,222
9,535
10,134
10,378
10,336
10,223
9,912
9,574
9,306
8,902
8,517
8,183
8,036
7,754
7,447
6,989
6,640
6,548
6,380
6,172
6,054
6,010
5,972

1,366
1,380
1,404
1,403
1,404
1,489
1,491
1,605
1,598
1,516
1,456
1,401
1,334
1,320
1,321
1,313
1,307
1,302
1,352
1,373
1,423
1,487
1,616
1,820
2,261
2,671
2,817
2,854
2,810
2,733
2,634
2,534
2,379
2,181
2,081
1,922
1,850
1,756
1,642
1,537
1,469
1,394
1,354
1,360
1,406
1,449
1,418

7/18/2014
7/25/2014
8/1/2014
8/8/2014
8/15/2014
8/22/2014
8/29/2014
9/5/2014
9/12/2014
9/19/2014
9/26/2014
10/3/2014
10/10/2014
10/17/2014
10/24/2014
10/31/2014
11/7/2014
11/14/2014
11/21/2014
11/28/2014
12/5/2014
12/12/2014
12/19/2014
12/26/2014
1/4/2015
1/19/2015
1/26/2015
1/30/2015
2/6/2015
2/28/2015

5,869
5,793
5,778
5,775
5,643
5,607
5,503
5,369
5,294
5,148
5,083
5,318
5,241
4,805
4,464
4,234
4,125
4,097
3,991
3,897
3,836
3,818
3,818
3,896
4,214
4,484
4,689
4,835
5,096
7,276

1,402
1,397
1,386
1,396
1,390
1,401
1,392
1,370
1,337
1,258
1,191
1,236
1,257
1,119
1,038
979
918
865
863
892
957
990
971
974
1,097
1,057
1,137
1,171
1,263
1,851

Long & Flat Steel Traders' Inventories in M

14000
12000
10000
8000
(in '000 mt)

6000
4000
2000
0

rebar

wire rod
Cold rolled flat steel

Plate flat stee

(in '000 mt)

6000
4000
2000
0

Source: Mysteel

Flat Steel
Hot rolled flat steel

Plate
4,903
4,841
4,832
4,818
4,797
4,779
4,756
4,782
5,031
5,097
5,120
5,156
5,110
4,982
4,950
4,784
4,703
4,643
4,541
4,419
4,391
4,424
4,359
4,311
4,314
4,301
4,275
4,285
4,288
4,210
4,183
4,266
4,304
4,307
4,323
4,308
4,304
4,301
4,349
4,371
4,449
4,443
4,626
4,662

1,345
1,323
1,323
1,369
1,387
1,408
1,428
1,451
1,651
1,654
1,651
1,735
1,697
1,592
1,589
1,584
1,565
1,559
1,523
1,469
1,473
1,510
1,503
1,497
1,536
1,557
1,555
1,551
1,535
1,505
1,504
1,516
1,501
1,476
1,480
1,492
1,477
1,472
1,505
1,479
1,481
1,461
1,519
1,476

4,634
4,569
4,492
4,390
4,355
4,350
4,281
4,183
4,132
4,074
4,035
4,041
4,058
4,092
4,300
4,527
4,648
4,686
4,659
4,615
4,605
4,570
4,513
4,420
4,332
4,259
4,148
4,033
3,963
3,896
3,885
3,821
3,772
3,770
3,774
3,780
3,828
3,809
3,783
3,833
3,846
3,908
3,918
3,919
3,903
3,895
3,924

1,484
1,458
1,467
1,462
1,430
1,441
1,430
1,414
1,403
1,398
1,386
1,413
1,423
1,451
1,523
1,625
1,664
1,616
1,603
1,580
1,549
1,527
1,516
1,510
1,514
1,524
1,522
1,504
1,505
1,510
1,492
1,506
1,494
1,484
1,497
1,524
1,531
1,549
1,542
1,491
1,498
1,504
1,497
1,493
1,480
1,482
1,442

3,800
3,581
3,521
3,597
3,587
3,459
3,356
3,260
3,148
3,121
3,030
2,960
2,856
2,785
2,753
2,748
3,430
3,522
3,541
3,586
3,650
3,769
4,571
4,722
4,733
4,756
4,717
4,726
4,761
4,784
4,825
4,791
4,820
4,820
4,724
4,686
4,698
4,582
4,560
4,493
4,434
4,356
4,298
4,296
4,276
4,233
4,176

1,425
1,383
1,346
1,450
1,420
1,411
1,413
1,383
1,287
1,279
1,243
1,209
1,186
1,153
1,154
1,159
1,415
1,402
1,405
1,448
1,480
1,511
1,769
1,811
1,779
1,725
1,667
1,657
1,638
1,618
1,603
1,557
1,538
1,518
1,473
1,452
1,462
1,481
1,467
1,503
1,484
1,460
1,437
1,427
1,425
1,442
1,450

4,171
4,115
4,107
4,071
4,074
4,062
4,022
4,221
4,200
4,142
4,098
4,014
3,992
3,994
3,996
3,962
3,958
3,921
3,900
3,847
3,862
3,830
3,822
3,885
4,137
4,353
4,372
4,348
4,298
4,228
4,199
4,209
4,092
3,971
3,830
3,693
3,709
3,616
3,483
3,388
3,302
3,255
3,206
3,193
3,158
3,135
3,117

1,462
1,481
1,504
1,532
1,553
1,574
1,559
1,644
1,659
1,624
1,595
1,554
1,521
1,517
1,501
1,478
1,473
1,433
1,429
1,433
1,440
1,446
1,464
1,465
1,668
1,679
1,654
1,618
1,612
1,562
1,508
1,478
1,454
1,421
1,394
1,396
1,403
1,376
1,340
1,341
1,339
1,341
1,349
1,349
1,335
1,332
1,316

3,104
3,051
3,006
2,933
2,891
2,873
2,849
2,865
2,845
2,799
2,763
2,975
2,957
2,879
2,802
2,737
2,704
2,613
2,561
2,481
2,424
2,386
2,377
2,367
2,422
2,436
2,466
2,499
2,545
2,904

1,301
1,292
1,275
1,235
1,188
1,149
1,130
1,085
1,089
1,074
1,060
1,114
1,100
1,077
1,038
1,031
1,027
1,006
989
977
949
928
945
954
977
1,008
1,027
1028.5
1,014
1184.5

Long & Flat Steel Traders' Inventories in Major China Cities

rebar

wire rod
Cold rolled flat steel

Plate flat steel

Hot rolled flat steel

2010-2015

Cold rolled flat steel

1,472
1,453
1,479
1,470
1,494
1,492
1,511
1,527
1,594
1,123
1,645
1,688
1,686
1,683
1,664
1,646
1,635
1,615
1,639
1,620
1,643
1,683
1,693
1,689
1,665
1,677
1,662
1,675
1,679
1,659
1,636
1,613
1,621
1,635
1,608
1,612
1,587
1,570
1,567
1,570
1,557
1,537
1,563
1,561

1,549
1,528
1,533
1,522
1,490
1,511
1,498
1,502
1,501
1,489
1,492
1,507
1,512
1,527
1,581
1,641
1,668
1,698
1,714
1,710
1,731
1,738
1,725
1,704
1,689
1,694
1,698
1,691
1,706
1,717
1,713
1,699
1,691
1,683
1,701
1,690
1,699
1,701
1,690
1,682
1,681
1,707
1,703
1,684
1,674
1,657
1,652

1,638
1,632
1,620
1,619
1,622
1,625
1,626
1,618
1,601
1,603
1,581
1,592
1,557
1,532
1,538
1,539
1,552
1,550
1,545
1,534
1,536
1,555
1,668
1,718
1,712
1,712
1,697
1,710
1,698
1,687
1,640
1,631
1,654
1,653
1,638
1,673
1,654
1,652
1,636
1,624
1,630
1,641
1,623
1,598
1,614
1,627
1,640

1,611
1,628
1,633
1,625
1,621
1,631
1,623
1,649
1,637
1,647
1,647
1,615
1,615
1,607
1,587
1,597
1,592
1,586
1,583
1,580
1,578
1,577
1,563
1,563
1,609
1,653
1,662
1,671
1,659
1,636
1,625
1,620
1,585
1,572
1,552
1,517
1,524
1,526
1,517
1,509
1,498
1,501
1,492
1,490
1,491
1,479
1,482

a Cities

Hot rolled flat steel

1,496
1,508
1,501
1,483
1,481
1,481
1,469
1,455
1,461
1,462
1,447
1,489
1,493
1,473
1,469
1,462
1,465
1,437
1,448
1,463
1,466
1,457
1,446
1,448
1,450
1,423
1,415
1434.8
1,440
1524.7

2010-2015

()
Annual Aggregate Financing to the Real Economy AFRE)
Of which

AFRE

RMB loans

Foreign
currencydenominated
loans

Entrusted loans

Trust loans

Undiscounted

(RMB
equivalent)
2002.01

-472

bankers'
acceptances

240

-11

-12

-755

2002.02

289

530

92

16

-402

2002.03

3136

2554

65

-3

315

2002.04

1151

937

54

119

51

2002.05

1774

1110

73

74

426

2002.06

2621

2929

88

18

-589

2002.07

813

620

33

45

36

2002.08

1585

1736

-15

-14

-233

2002.09

3507

2885

88

-23

296

2002.10

795

722

16

-27

-61

2002.11

1805

1539

42

-16

107

2002.12

3109

2673

205

113

2003.01

3386

3266

106

37

-113

2003.02

998

1091

53

18

-277

2003.03

4041

3725

271

23

-41

2003.04

2622

1945

227

68

280

2003.05

2971

2534

265

121

2003.06

5842

5250

299

176

13

2003.07

1344

1062

103

22

-34

2003.08

3321

2808

247

100

-5

2003.09

4040

3035

400

78

432

2003.10

1218

616

148

-10

378

2003.11

1832

1025

202

66

355

2003.12

2498

1295

-37

21

902

2004.01

2114

2540

180

133

-851

2004.02

438

2085

287

138

-2174

2004.03

6557

3726

313

98

2316

2004.04

2731

1995

171

99

331

2004.05

2443

1132

151

1316

-263

2004.06

3229

2821

209

144

-119

2004.07

590

-19

-65

99

329

2004.08

1501

1157

50

162

-3

2004.09

2981

2502

16

115

134

2004.10

483

256

-105

98

105

2004.11

1977

1495

175

358

-151

2004.12

3586

2983

357

58

2005.01

3620

2810

727

187

-190

2005.02

824

959

-6

53

-251

2005.03

4189

3607

172

277

69

2005.04

1999

1420

91

200

177

2005.05

1968

1089

206

109

92

2005.06

4723

4653

152

89

-323

2005.07

629

-314

186

202

172

2005.08

2097

1897

-155

153

50

2005.09

6041

3453

-30

171

2126

2005.10

-974

264

287

215

-2141

2005.11

2368

2251

-136

123

-208

2005.12

2524

1454

-80

184

450

2006.01

6323

5674

114

345

31

-208

2006.02

1737

1491

71

119

26

-221

2006.03

7472

5402

159

204

38

1176

2006.04

3325

3163

128

419

27

-752

2006.05

3785

2094

108

257

87

886

2006.06

3843

3655

17

129

75

-420

2006.07

2254

1634

-65

194

98

100

2006.08

3362

1900

353

201

68

253

2006.09

3077

2201

14

228

94

415

2006.10

894

169

-12

155

107

128

2006.11

2788

1935

233

254

68

-179

2006.12

3837

2204

341

188

107

322

2006

42697

31522

1461

2693

826

1500

2007.01

6908

5663

-208

211

124

913

2007.02

3083

4138

197

162

108

-1573

2007.03

6311

4417

211

100

65

1143

2007.04

6103

4220

118

460

111

1006

2007.05

3824

2473

265

230

245

346

2007.06

7042

4515

684

243

152

1025

2007.07

3100

2314

316

331

126

-351

2007.08

6961

3029

585

421

203

2113

2007.09

5290

2835

647

270

-3

588

2007.10

3688

1361

458

-250

434

398

2007.11

3073

874

525

135

-169

-212

2007.12

4281

485

66

1058

307

1306

59664

36324

3864

3371

1703

6702

2008.01

10859

8058

1235

564

-19

219

2008.02

4731

2434

1532

93

22

-297

2008.03

6391

2834

733

82

242

1582

2008.04

7076

4690

149

537

660

279

2008.05

5678

3185

209

423

261

1110

2008.06

5976

3324

97

447

95

1713

2008.07

4890

3818

-43

373

594

-723

2008.08

4575

2715

-204

326

323

648

2007

2008.09

5659

3745

-171

648

445

206

2008.10

1288

1819

-742

158

451

-1469

2008.11

4517

4775

-534

355

-143

-717

2008.12

8164

7645

-314

255

214

-1486

69804

49042

1947

4261

3145

1065

2009.01

13990

16177

-582

262

-346

-2232

2009.02

11131

10715

-288

347

38

-305

2009.03

22011

18920

291

407

-137

972

2009.04

5452

5918

478

339

75

-3247

2009.05

14959

6669

1054

619

292

5035

2009.06

21067

15304

2542

678

297

613

2009.07

7388

3691

752

502

572

295

2009.08

7650

4104

1315

776

482

-103

2009.09

11871

5167

1208

1125

869

1310

2009.10

5985

2530

1112

708

218

217

2009.11

9501

2948

1131

670

1294

1178

2009.12

8100

3800

252

347

710

874

2008

2009

139105

95943

9265

6780

4364

4607

2010.01

20550

13934

641

857

265

3449

2010.02

10877

6999

663

96

496

1425

2010.03

13830

5107

662

567

1377

4208

2010.04

14919

7740

349

635

2039

2309

2010.05

10805

6493

-112

623

762

1213

2010.06

10196

6027

-18

421

1077

1105

2010.07

7202

5327

-378

706

231

900

2010.08

10646

5446

166

521

-761

3381

2010.09

11224

6004

918

626

-713

1679

2010.10

8608

5877

346

1027

-297

306

2010.11

10554

5689

526

1121

-324

1796

2010.12

10780

4807

1090

1549

-288

1576

140191

79450

4853

8749

3864

23347

17560

10263

862

1272

-98

3157

2011.02

6468

5377

347

419

141

-1176

2011.03

18212

6794

572

1513

47

5631

2011.04

13673

7430

492

1407

501

2332

2011.05

10854

5516

842

1216

180

1695

2011.06

10873

6339

245

1202

141

1630

2011.07

5393

4916

1232

-28

-1726

2011.08

10741

5484

376

1409

176

1652

2011.09

4279

4693

1025

1008

-223

-3361

2011.10

7908

5868

415

518

90

-1186

2011.11

9581

5629

49

595

716

-227

2010
2011.01

2011.12
2011

12744

6406

478

1173

389

1851

128286

74715

5712

12964

2032

10272

7381

-148

1646

247

2012.01

9754

-214

2012.02

10431

7107

526

394

522

-284

2012.03

18703

10114

950

770

1018

2821

2012.04

9637

6818

96

1015

37

279

2012.05

11432

7932

302

215

557

380

2012.06

17802

9198

1040

789

988

3113

2012.07

10522

5401

70

1279

384

218

2012.08

12475

7039

743

1046

1238

-846

2012.09

16462

6226

1764

1449

2012

2155

2012.10

12906

5054

1290

941

1444

729

2012.11

11225

5220

1045

1218

1802

-489

2012.12

16282

4546

1486

2079

2598

2637

157631

82038

9163

12838

12845

10498

2013.01

25446

10721

1795

2061

2108

5798

2013.02

10705

6200

1149

1426

1825

-1823

2013.03

25503

10625

1509

1748

4312

2731

2013.04

17629

7923

847

1926

1942

2218

2013.05

11871

6694

357

1967

971

-1141

2013.06

10375

8628

133

1990

1208

-2615

2013.07

8191

6997

-1157

1927

1151

-1777

2013.08

15841

7128

-360

2938

1209

3049

2013.09

14120

7870

891

2218

1130

-79

2013.10

8645

5060

53

1834

431

-345

2013.11

12310

6246

122

2704

1006

60

2013.12

12532

4824

509

2727

1111

1679

173168

88916

5848

25466

18404

7755

2012

2013
2014.01

25973

13190

1588

3943

1059

4902

2014.02

9360

6448

1302

799

747

-1419

2014.03

20709

10501

1364

2411

995

2109

2014.04

15538

7747

186

1576

417

787

2014.05

14000

8708

-162

2063

116

-96

2014.06

19678

10793

357

2616

1200

1445

2014.07

2731

3852

-169

1219

-158

-4160

2014.08

9577

7025

-201

1751

-515

-1116

2014.09

11355

8572

-506

1610

-326

-1410

2014.10

6627

5483

-716

1377

-215

-2413

2014.11

11463

8527

-26

1270

-314

-672

16945

6973

540

4551

2102

601

163956

97819

3557

25186

5108

-1442

2014.12
2014

YoY Growth

-5.3%

10.0%

-39.2%

-1.1%

-72.2%

-118.6%

1.
AFRE refers to the total volume of financing provided by the financial system to the real economy during a certain period of time. It is a flow.

2.
In the calculation of AFRE, data were from the PBC, NDRC, CSRC, CIRC, CCDC and NAFMII.
3.
Statistics for the current period is preliminary.

my AFRE)
/Unit: 00 million Yuan

Net financing of
corporate bonds

Equity financing on the domestic

stock market by non-financial
enterprises

40

27

173

10

-56

10

50

78

55

10

34

23

48

58

162

87

27

60

34

30

34

25

29

56

20

26

12

47

16

40

58

92

55

73

14

34

15

36

34

110

210

44

70

45

20

10

45

19

70

23

42

17

103

194

27

59

130

25

70

16

37

82

23

20

16

29

47

10

151

274

85

330

90

253

347

265

422

303

204

299

127

271

289

209

104

116

114

153

357

-8

52

237

44

212

183

26

548

2311

1535

-39

158

-80

65

177

128

-41

145

52

137

309

20

133

149

263

256

310

548

213

992

790

1017

198

718

2285

4333

75

615

316

557

427

367

333

317

365

185

572

188

352

290

616

50

948

573

69

1309

315

5523

3325

507

14

447

48

1240

119

1557

137

876

238

1238

190

587

788

634

234

1678

299

723

302

1909

168

973

815

12369

3352

664

519

688

366

1324

365

1192

432

1356

253

872

468

-69

262

1208

419

1883

543

629

483

719

722

594

954

11060

5786

1012

731

877

270

2682

557

761

448

721

351

536

320

422

252

898

350

520

236

1639

244

2077

268

1514

350

13659

4377

442

81

1544

229

1974

565

887

190

1441

184

1982

246

2486

316

2579

208

2278

158

2992

88

1820

107

2126

135

22551

2508

2249

244

1454

165

3870

208

2039

274

2230

231

323

126

476

128

1240

136

1443

113

1078

78

1424

147

287

369

18113

2219

371

454

1016

169

2459

352

3663

751

2797

140

2631

154

1427

332

1934

217

2338

612

2417

279

1826

379

761

658

23640

4497

30.5%

102.7%

n period of time. It is a flow.

6
Direct Discount Rate (daily)
Date
Zhuhai Delta

Unit

2008-04-20
2008-04-21
2008-04-23
2008-04-24
2008-04-25
2008-04-28
2008-04-29
2008-04-30
2008-05-04
2008-05-05
2008-05-06
2008-05-07
2008-05-08
2008-05-09
2008-05-12
2008-05-13
2008-05-14
2008-05-15
2008-05-16
2008-05-19
2008-05-20
2008-05-21
2008-05-23
2008-05-26
2008-05-27
2008-05-28
2008-05-29
2008-05-30
2008-06-02
2008-06-03
2008-06-04
2008-06-05
2008-06-06
2008-06-10
2008-06-11
2008-06-12
2008-06-13
2008-06-16
2008-06-17
2008-06-18
2008-06-19
2008-06-20

Around Bohai Sea

2008-06-23
2008-06-24
2008-06-25
2008-06-26
2008-06-27
2008-06-30
2008-07-01
2008-07-02
2008-07-03
2008-07-04
2008-07-07
2008-07-08
2008-07-09
2008-07-10
2008-07-11
2008-07-14
2008-07-15
2008-07-16
2008-07-17
2008-07-18
2008-07-21
2008-07-22
2008-07-23
2008-07-24
2008-07-25
2008-07-28
2008-07-29
2008-07-30
2008-07-31
2008-08-01
2008-08-04
2008-08-05
2008-08-06
2008-08-07
2008-08-08
2008-08-11
2008-08-12
2008-08-13
2008-08-14
2008-08-15
2008-08-18
2008-08-19
2008-08-20
2008-08-21
2008-08-22
2008-08-25
2008-08-26

2008-08-27
2008-08-28
2008-08-29
2008-09-01
2008-09-02
2008-09-03
2008-09-04
2008-09-05
2008-09-08
2008-09-09
2008-09-10
2008-09-11
2008-09-16
2008-09-17
2008-09-18
2008-09-19
2008-09-22
2008-09-23
2008-09-24
2008-09-25
2008-09-26
2008-09-27
2008-10-06
2008-10-07
2008-10-08
2008-10-09
2008-10-10
2008-10-13
2008-10-14
2008-10-15
2008-10-16
2008-10-17
2008-10-20
2008-10-21
2008-10-22
2008-10-23
2008-10-24
2008-10-27
2008-10-28
2008-10-29
2008-10-30
2008-10-31
2008-11-03
2008-11-04
2008-11-05
2008-11-06
2008-11-07

2008-11-10
2008-11-13
2008-11-14
2008-11-18
2008-11-19
2008-11-20
2008-11-21
2008-11-25
2008-11-27
2008-11-28
2008-12-01
2008-12-02
2008-12-03
2008-12-04
2008-12-05
2008-12-08
2008-12-12
2008-12-15
2008-12-16
2008-12-17
2008-12-18
2008-12-19
2008-12-22
2008-12-23
2008-12-24
2008-12-25
2008-12-26
2008-12-29
2008-12-30
2008-12-31
2009-01-04
2009-01-05
2009-01-06
2009-01-07
2009-01-08
2009-01-09
2009-01-12
2009-01-13
2009-01-14
2009-01-15
2009-01-16
2009-01-19
2009-01-20
2009-01-21
2009-01-22
2009-01-23
2009-01-24

2009-02-01
2009-02-02
2009-02-03
2009-02-04
2009-02-05
2009-02-06
2009-02-09
2009-02-10
2009-02-11
2009-02-12
2009-02-13
2009-02-16
2009-02-17
2009-02-18
2009-02-19
2009-02-20
2009-02-23
2009-02-24
2009-02-25
2009-02-26
2009-02-27
2009-03-02
2009-03-03
2009-03-04
2009-03-05
2009-03-06
2009-03-09
2009-03-10
2009-03-11
2009-03-12
2009-03-13
2009-03-16
2009-03-17
2009-03-18
2009-03-19
2009-03-20
2009-03-23
2009-03-24
2009-03-25
2009-03-26
2009-03-27
2009-03-30
2009-03-31
2009-04-01
2009-04-02
2009-04-03
2009-04-07

1.5000
1.5000
1.5000
1.5000
1.4000
1.4000
1.3000
1.3000
1.4500
1.5100
1.5100
1.5000
1.5000
1.5500
1.5800
1.5800
1.5800
1.5000
1.5000
1.5000
1.4500
1.5000
1.4500
1.4500
1.4000
1.4000
1.3800
1.3800
1.3800
1.3400
1.3400
1.3400
1.3300
1.3300
1.3300
1.3300
1.3400
1.3400
1.3400
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200

2009-04-08
2009-04-09
2009-04-10
2009-04-13
2009-04-14
2009-04-15
2009-04-16
2009-04-17
2009-04-20
2009-04-21
2009-04-22
2009-04-23
2009-04-24
2009-04-27
2009-04-28
2009-04-29
2009-04-30
2009-05-04
2009-05-05
2009-05-06
2009-05-07
2009-05-08
2009-05-11
2009-05-12
2009-05-13
2009-05-14
2009-05-15
2009-05-18
2009-05-19
2009-05-20
2009-05-21
2009-05-22
2009-05-25
2009-05-26
2009-05-27
2009-05-31
2009-06-01
2009-06-02
2009-06-03
2009-06-04
2009-06-05
2009-06-08
2009-06-09
2009-06-10
2009-06-11
2009-06-12
2009-06-15

1.3500
1.3500
1.3500
1.3500
1.3500
1.3500
1.3500
1.3500
1.3500
1.3500
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3000
1.3200
1.3200
1.2800
1.2800
1.2800
1.2800
1.3000
1.2800
1.2800
1.3000
1.3000
1.3000

2009-06-16
2009-06-17
2009-06-18
2009-06-19
2009-06-22
2009-06-23
2009-06-24
2009-06-25
2009-06-26
2009-06-29
2009-06-30
2009-07-01
2009-07-02
2009-07-03
2009-07-06
2009-07-07
2009-07-08
2009-07-09
2009-07-10
2009-07-13
2009-07-14
2009-07-15
2009-07-16
2009-07-17
2009-07-20
2009-07-21
2009-07-22
2009-07-23
2009-07-24
2009-07-27
2009-07-28
2009-07-29
2009-07-30
2009-07-31
2009-08-03
2009-08-04
2009-08-05
2009-08-06
2009-08-07
2009-08-10
2009-08-11
2009-08-12
2009-08-13
2009-08-14
2009-08-17
2009-08-18
2009-08-19

1.3800
1.3800
1.4500
1.4500
1.5000
1.5000
1.5000
1.5000
1.5000
1.5000
1.5000
1.5000
1.5000
1.5000
1.4500
1.4500
1.4500
1.4800
1.4800
1.5500
1.5500
1.6500
1.6500
1.6500
2.0500
2.0500
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500

2009-08-20
2009-08-21
2009-08-24
2009-08-25
2009-08-26
2009-08-27
2009-08-28
2009-08-31
2009-09-01
2009-09-02
2009-09-03
2009-09-04
2009-09-07
2009-09-08
2009-09-09
2009-09-10
2009-09-11
2009-09-14
2009-09-15
2009-09-16
2009-09-17
2009-09-18
2009-09-21
2009-09-22
2009-09-23
2009-09-24
2009-09-25
2009-09-27
2009-09-28
2009-09-29
2009-09-30
2009-10-09
2009-10-10
2009-10-12
2009-10-13
2009-10-14
2009-10-15
2009-10-16
2009-10-19
2009-10-20
2009-10-21
2009-10-22
2009-10-23
2009-10-26
2009-10-27
2009-10-28
2009-10-29

1.9500
1.9500
1.9200
1.9200
1.9200
1.9200
1.8500
1.8500
1.8500
1.8500
1.8500
1.8500
1.8400
1.8400
1.8400
1.8400
1.8400
1.8400
1.8400
1.8400
1.8400
1.8500
1.8500
1.9500
1.9500
1.9500
2.4000
2.4000
2.4000
2.4000
2.4000
2.4000
2.4000
2.1000
2.0500
2.0500
2.0500
2.0500
1.9800
1.9800
2.5000
2.5000
2.5000
2.5000
2.2000
2.2000
2.2000

2009-10-30
2009-11-02
2009-11-03
2009-11-04
2009-11-05
2009-11-06
2009-11-09
2009-11-10
2009-11-11
2009-11-12
2009-11-13
2009-11-16
2009-11-17
2009-11-18
2009-11-19
2009-11-20
2009-11-23
2009-11-24
2009-11-25
2009-11-26
2009-11-27
2009-11-30
2009-12-01
2009-12-02
2009-12-03
2009-12-04
2009-12-07
2009-12-08
2009-12-09
2009-12-10
2009-12-11
2009-12-14
2009-12-15
2009-12-16
2009-12-17
2009-12-18
2009-12-21
2009-12-22
2009-12-23
2009-12-24
2009-12-25
2009-12-28
2009-12-29
2009-12-30
2009-12-31
2010-01-04
2010-01-05

2.2000
2.2000
2.2000
2.0000
2.0000
1.9800
1.9800
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
2.0000
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.1000
2.1000
2.1000
2.1000
2.1000
2.1000
2.1000
2.1000
2.1000
2.1200
2.1200
2.1200
2.1200
2.1200
2.1200
2.1200
2.1000
2.0000

1.9800
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
2.0000
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.1000
2.1000
2.1000
2.1000
2.1000
2.1000
2.1000
2.0500
2.0000

2010-01-06
2010-01-07
2010-01-08
2010-01-11
2010-01-12
2010-01-13
2010-01-14
2010-01-15
2010-01-18
2010-01-19
2010-01-20
2010-01-21
2010-01-22
2010-01-25
2010-01-26
2010-01-27
2010-01-28
2010-01-29
2010-02-01
2010-02-02
2010-02-03
2010-02-04
2010-02-05
2010-02-08
2010-02-09
2010-02-10
2010-02-11
2010-02-22
2010-02-23
2010-02-24
2010-02-25
2010-02-26
2010-03-01
2010-03-02
2010-03-03
2010-03-04
2010-03-05
2010-03-08
2010-03-09
2010-03-10
2010-03-11
2010-03-12
2010-03-15
2010-03-16
2010-03-17
2010-03-18
2010-03-19

2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0500
2.1500
2.3000
3.5000
3.5000
3.5000
2.7000
2.7000
2.7000
2.7000
2.7000
2.7000
3.0000
3.0000
3.0000
3.5000
3.5000
3.5000
3.5000
3.6000
3.6000
3.2000
3.3000
3.3000
3.3000
3.2000
3.2000
3.0000
3.0000
2.8000
2.8000
2.8000
2.9000
2.9000
2.9000
2.8500
2.8500
2.8000
2.8000

2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0500
2.1500
2.3000
3.5000
3.5000
3.5000
2.7000
2.7000
2.7000
2.7000
2.7000
2.7000
3.0000
3.0000
3.0000
3.5000
3.5000
3.5000
3.5000
3.6000
3.6000
3.2000
3.3000
3.3000
3.3000
3.2000
3.2000
3.0000
3.0000
2.8000
2.8000
2.8000
2.9000
2.9000
2.9000
2.8500
2.8500
2.8000
2.8000

2010-03-22
2010-03-23
2010-03-24
2010-03-25
2010-03-26
2010-03-29
2010-03-30
2010-03-31
2010-04-01
2010-04-02
2010-04-06
2010-04-07
2010-04-08
2010-04-09
2010-04-12
2010-04-13
2010-04-14
2010-04-15
2010-04-16
2010-04-19
2010-04-20
2010-04-21
2010-04-22
2010-04-23
2010-04-26
2010-04-27
2010-04-28
2010-04-29
2010-04-30
2010-05-04
2010-05-05
2010-05-06
2010-05-07
2010-05-10
2010-05-11
2010-05-12
2010-05-13
2010-05-17
2010-05-18
2010-05-19
2010-05-20
2010-05-21
2010-05-24
2010-05-25
2010-05-26
2010-05-27
2010-05-28

2.8000
2.8000
2.8000
3.0000
3.2000
3.2000
3.0000
3.0000
2.9000
2.8000
2.8000
2.8000
2.7000
2.7000
2.7000
2.7000
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6000
2.6000
2.6000
2.6000
2.6000
2.5500
2.5500
2.5500
2.5500

2.8000
2.8000
2.8000
3.0000
3.2000
3.2000
3.0000
3.0000
2.9000
2.8000
2.8000
2.8000
2.7000
2.7000
2.7000
2.7000
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6000
2.6000
2.6000
2.6000
2.6000
2.5500
2.5500
2.5500
2.5500

2010-05-31
2010-06-01
2010-06-02
2010-06-03
2010-06-04
2010-06-07
2010-06-08
2010-06-09
2010-06-10
2010-06-11
2010-06-12
2010-06-13
2010-06-17
2010-06-18
2010-06-21
2010-06-22
2010-06-23
2010-06-24
2010-06-25
2010-06-28
2010-06-29
2010-06-30
2010-07-01
2010-07-02
2010-07-05
2010-07-06
2010-07-07
2010-07-08
2010-07-09
2010-07-12
2010-07-13
2010-07-14
2010-07-15
2010-07-16
2010-07-19
2010-07-20
2010-07-21
2010-07-22
2010-07-23
2010-07-26
2010-07-27
2010-07-28
2010-07-29
2010-07-30
2010-08-02
2010-08-03
2010-08-04

2.5500
2.6000
2.8000
2.8000
3.0500
3.1000
3.1000
3.1000
3.1000
3.2000
3.3000
3.3000
3.3000
3.5500
4.2000
4.3000
4.8000
4.8000
5.0000
5.0000
4.3000
4.3000
4.3000
3.8500
3.6500
3.4000
3.4000
3.4000
3.4000
3.1000
3.1000
3.1000
3.1000
3.1000
3.1500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500

2.5500
2.6000
2.8000
2.8000
3.0500
3.1000
3.1000
3.1000
3.1000
3.2000
3.3000
3.3000
3.3000
3.5500
4.2000
4.3000
4.8000
4.8000
5.0000
5.0000
4.3000
4.3000
4.3000
3.8500
3.6500
3.4000
3.4000
3.4000
3.4000
3.1000
3.1000
3.1000
3.1000
3.1000
3.1500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500

2010-08-05
2010-08-06
2010-08-09
2010-08-10
2010-08-11
2010-08-12
2010-08-13
2010-08-16
2010-08-17
2010-08-18
2010-08-19
2010-08-20
2010-08-23
2010-08-24
2010-08-25
2010-08-26
2010-08-27
2010-08-30
2010-08-31
2010-09-01
2010-09-02
2010-09-03
2010-09-06
2010-09-07
2010-09-08
2010-09-09
2010-09-10
2010-09-13
2010-09-14
2010-09-15
2010-09-16
2010-09-17
2010-09-19
2010-09-20
2010-09-21
2010-09-25
2010-09-26
2010-09-27
2010-09-28
2010-09-29
2010-09-30
2010-10-08
2010-10-09
2010-10-11
2010-10-12
2010-10-13
2010-10-14

3.0500
3.0500
3.0000
3.0000
2.9800
2.9800
2.9800
2.8000
2.8500
2.8500
2.8500
2.9000
2.9500
2.9500
2.9500
3.0000
3.0500
3.0500
3.0500
2.9500
2.9500
3.0000
3.0000
3.0000
3.0500
3.6000
3.6000
3.4000
3.2500
3.3000
3.3000
3.7000
3.7000
4.2000
4.2000
4.2000
3.8000
4.0000
4.0000
4.5000
4.5000
4.3000
4.0000
3.7500
3.5500
3.5500
3.4000

3.0500
3.0500
3.0000
3.0000
2.9800
2.9800
2.9800
2.8000
2.8500
2.8500
2.8500
2.9000
2.9500
2.9500
2.9500
3.0000
3.0500
3.0500
3.0500
2.9500
2.9500
3.0000
3.0000
3.0000
3.0500
3.6000
3.6000
3.4000
3.2500
3.3000
3.3000
3.7000
3.7000
4.2000
4.2000
4.2000
3.8000
4.0000
4.0000
4.5000
4.5000
4.3000
4.0000
3.7500
3.5500
3.5500
3.4000

2010-10-15
2010-10-18
2010-10-19
2010-10-20
2010-10-21
2010-10-22
2010-10-25
2010-10-26
2010-10-27
2010-10-28
2010-10-29
2010-11-01
2010-11-02
2010-11-03
2010-11-04
2010-11-05
2010-11-08
2010-11-09
2010-11-10
2010-11-11
2010-11-12
2010-11-15
2010-11-16
2010-11-17
2010-11-18
2010-11-19
2010-11-22
2010-11-23
2010-11-24
2010-11-25
2010-11-26
2010-11-29
2010-11-30
2010-12-01
2010-12-02
2010-12-03
2010-12-06
2010-12-07
2010-12-08
2010-12-09
2010-12-10
2010-12-13
2010-12-14
2010-12-15
2010-12-16
2010-12-17
2010-12-20

3.4000
3.5000
3.5000
3.7000
3.7000
3.9000
3.7500
3.7500
4.0000
4.0000
4.0000
4.0000
4.0000
4.0000
3.7000
3.7000
3.7000
3.6000
3.6000
3.6000
3.7500
3.7000
4.1000
4.1000
4.3000
4.3000
4.3000
4.9000
4.9000
5.2000
5.2000
5.2000
5.2000
5.2000
4.8000
4.8000
5.0000
5.1000
5.1000
5.4000
5.4000
5.8000
5.9000
5.9000
5.6000
5.3000
5.3000

3.4000
3.5000
3.5000
3.7000
3.7000
3.9000
3.7500
3.7500
4.0000
4.0000
4.0000
4.0000
4.0000
4.0000
3.7000
3.7000
3.7000
3.6000
3.6000
3.6000
3.7500
3.7000
4.1000
4.1000
4.3000
4.3000
4.3000
4.9000
4.9000
5.2000
5.2000
5.2000
5.2000
5.2000
4.8000
4.8000
5.0000
5.1000
5.1000
5.4000
5.4000
5.8000
5.9000
5.9000
5.6000
5.3000
5.3000

2010-12-21
2010-12-22
2010-12-23
2010-12-24
2010-12-27
2010-12-28
2010-12-29
2010-12-30
2010-12-31
2011-01-04
2011-01-05
2011-01-06
2011-01-07
2011-01-10
2011-01-11
2011-01-12
2011-01-13
2011-01-14
2011-01-17
2011-01-18
2011-01-19
2011-01-20
2011-01-21
2011-01-24
2011-01-26
2011-01-28
2011-02-09
2011-02-10
2011-02-11
2011-02-12
2011-02-14
2011-02-15
2011-02-16
2011-02-17
2011-02-18
2011-02-21
2011-02-22
2011-02-23
2011-02-24
2011-02-25
2011-02-28
2011-03-01
2011-03-02
2011-03-03
2011-03-04
2011-03-07
2011-03-08

5.0500
5.0500
5.0000
6.0000
7.0000
6.5000
6.5000
6.5000
6.5000
5.3500
5.2000
5.2000
4.8000
4.8000
4.6000
4.5000
4.7000
4.9000
5.3000
5.5000
5.4000
5.8000
5.8000
7.5000
8.0000
8.0000
8.5000
8.5000
8.0000
7.5000
7.5000
6.3000
6.2000
5.8000
5.7000
6.2000
6.5000
6.3000
6.2500
6.0000
6.3000
5.6000
5.6000
5.4500
5.4500
5.3500
5.3500

5.0500
5.0500
5.0000
6.0000
7.0000
6.5000
6.5000
6.5000
6.5000
5.3500
5.2000
5.2000
4.8000
4.8000
4.6000
4.5000
4.7000
4.9000
5.3000
5.5000
5.4000
5.8000
5.8000
7.5000
8.0000
8.0000
8.5000
8.5000
8.0000
7.5000
7.5000
6.3000
6.2000
5.8000
5.7000
6.2000
6.5000
6.3000
6.2500
6.0000
6.3000
5.6000
5.6000
5.4500
5.4500
5.3500
5.3500

2011-03-09
2011-03-10
2011-03-11
2011-03-14
2011-03-15
2011-03-16
2011-03-17
2011-03-18
2011-03-21
2011-03-22
2011-03-23
2011-03-24
2011-03-25
2011-03-28
2011-03-29
2011-03-30
2011-03-31
2011-04-01
2011-04-06
2011-04-08
2011-04-11
2011-04-12
2011-04-13
2011-04-15
2011-04-18
2011-04-19
2011-04-20
2011-04-21
2011-04-22
2011-04-25
2011-04-26
2011-04-27
2011-04-28
2011-04-29
2011-05-03
2011-05-04
2011-05-05
2011-05-06
2011-05-09
2011-05-10
2011-05-11
2011-05-12
2011-05-16
2011-05-17
2011-05-18
2011-05-19
2011-05-20

5.3500
5.3500
5.3500
5.4000
5.5000
5.5000
5.5000
5.5000
5.4000
5.6000
5.5000
5.5000
5.5000
5.7000
5.7000
5.4000
5.4000
5.4000
5.4000
5.6000
5.4000
5.3000
5.0000
5.0000
5.0000
4.8000
4.8000
4.9500
4.9500
4.9500
5.0000
5.1000
5.1000
5.1000
5.1000
5.1000
5.0000
5.0000
4.8000
4.8000
4.8000
4.8000
5.1000
5.1000
5.0000
5.0000
5.3000

5.3500
5.3500
5.3500
5.4000
5.5000
5.5000
5.5000
5.5000
5.4000
5.6000
5.5000
5.5000
5.5000
5.7000
5.7000
5.4000
5.4000
5.4000
5.4000
5.6000
5.4000
5.3000
5.0000
5.0000
5.0000
4.8000
4.8000
4.9500
4.9500
4.9500
5.0000
5.1000
5.1000
5.1000
5.1000
5.1000
5.0000
5.0000
4.8000
4.8000
4.8000
4.8000
5.1000
5.1000
5.0000
5.0000
5.3000

2011-05-23
2011-05-24
2011-05-25
2011-05-26
2011-05-27
2011-05-30
2011-05-31
2011-06-01
2011-06-02
2011-06-07
2011-06-08
2011-06-09
2011-06-10
2011-06-13
2011-06-14
2011-06-17
2011-06-20
2011-06-21
2011-06-23
2011-06-24
2011-06-27
2011-06-28
2011-06-29
2011-06-30
2011-07-01
2011-07-04
2011-07-05
2011-07-06
2011-07-11
2011-07-12
2011-07-13
2011-07-15
2011-07-18
2011-07-19
2011-07-20
2011-07-21
2011-07-22
2011-07-25
2011-07-26
2011-07-28
2011-07-29
2011-08-02
2011-08-04
2011-08-05
2011-08-08
2011-08-16
2011-08-17

5.3000
5.3000
5.5000
5.6000
5.4000
5.3000
5.3000
5.3000
5.1000
5.3000
5.5000
5.8000
5.8000
5.9000
6.2000
7.0000
7.0000
7.0000
7.0000
7.5000
8.0000
8.0000
8.0000
7.6000
7.3000
7.5000
7.5000
7.5000
7.9000
7.9000
7.5000
7.5000
8.0000
8.0000
8.0000
8.5000
8.5000
8.5000
8.6000
9.0000
9.0000
8.5000
8.5000
8.3000
8.0000
8.0000
7.8000

5.3000
5.3000
5.5000
5.6000
5.4000
5.3000
5.3000
5.3000
5.1000
5.3000
5.5000
5.8000
5.8000
5.9000
6.2000
7.0000
7.0000
7.0000
7.0000
7.5000
8.0000
8.0000
8.0000
7.6000
7.3000
7.5000
7.5000
7.5000
7.9000
7.9000
7.5000
7.5000
8.0000
8.0000
8.0000
8.5000
8.5000
8.5000
8.6000
9.0000
9.0000
8.5000
8.5000
8.3000
8.0000
8.0000
7.8000

2011-08-19
2011-08-25
2011-08-26
2011-08-30
2011-09-05
2011-09-06
2011-09-07
2011-09-08
2011-09-09
2011-09-13
2011-09-14
2011-09-15
2011-09-16
2011-09-19
2011-09-20
2011-09-21
2011-09-26
2011-09-28
2011-09-29
2011-09-30
2011-10-08
2011-10-09
2011-10-10
2011-10-11
2011-10-12
2011-10-13
2011-10-14
2011-10-17
2011-10-18
2011-10-20
2011-10-21
2011-10-25
2011-10-26
2011-10-27
2011-11-02
2011-11-04
2011-11-09
2011-11-10
2011-11-11
2011-11-14
2011-11-16
2011-11-17
2011-11-18
2011-11-22
2011-11-25
2011-11-28
2011-11-30

7.8000
7.8000
8.5000
9.0000
9.0000
9.0000
9.0000
9.0000
9.5000
9.0000
9.5000
9.5000
9.5000
10.0000
12.0000
12.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
9.5000
9.5000
9.5000
9.5000
9.0000
8.5000
7.8000
7.5000
7.5000
7.8000
7.8000
7.5000
7.5000
7.8000
7.8000
7.8000
7.8000
7.6000
7.5000
7.5000
8.2000
8.5000
8.8000
8.5000

7.8000
7.8000
8.5000
9.0000
9.0000
9.0000
9.0000
9.0000
9.5000
9.0000
9.5000
9.5000
9.5000
10.0000
12.0000
12.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
9.5000
9.5000
9.5000
9.5000
9.0000
8.5000
7.8000
7.5000
7.5000
7.8000
7.8000
7.5000
7.5000
7.8000
7.8000
7.8000
7.8000
7.6000
7.5000
7.5000
8.2000
8.5000
8.8000
8.5000

2011-12-01
2011-12-02
2011-12-05
2011-12-06
2011-12-07
2011-12-08
2011-12-12
2011-12-13
2011-12-14
2011-12-15
2011-12-16
2011-12-19
2011-12-20
2011-12-21
2011-12-22
2011-12-26
2011-12-27
2011-12-28
2011-12-29
2011-12-30
2011-12-31
2012-01-04
2012-01-05
2012-01-06
2012-01-09
2012-01-10
2012-01-11
2012-01-12
2012-01-13
2012-01-16
2012-01-30
2012-02-01
2012-02-02
2012-02-03
2012-02-06
2012-02-07
2012-02-08
2012-02-09
2012-02-10
2012-02-13
2012-02-14
2012-02-15
2012-02-16
2012-02-17
2012-02-20
2012-02-21
2012-02-22

8.2000
8.0000
8.0000
8.0000
7.5000
7.5000
7.0500
7.0500
7.0500
7.0500
7.0100
7.0100
7.0100
6.9000
6.9000
7.8000
7.8000
8.0000
8.0000
8.0000
8.0000
8.0000
7.7000
7.3000
7.0000
6.9000
6.8500
6.8500
7.0000
6.9000
7.0000
7.3000
6.9000
6.8000
6.6500
6.5000
6.3000
6.3000
6.1000
5.9000
5.8000
5.7500
5.7000
5.7000
5.8000
5.7000
5.7000

8.2000
8.0000
8.0000
8.0000
7.5000
7.5000
7.0500
7.0500
7.0500
7.0500
7.0100
7.0100
7.0100
6.9000
6.9000
7.8000
7.8000
8.0000
8.0000
8.0000
8.0000
8.0000
7.7000
7.3000
7.0000
6.9000
6.8500
6.8500
7.0000
6.9000
7.0000
7.3000
6.9000
6.8000
6.6500
6.5000
6.3000
6.3000
6.1000
5.9000
5.8000
5.7500
5.7000
5.7000
5.8000
5.7000
5.7000

2012-02-23
2012-02-24
2012-02-27
2012-02-28
2012-02-29
2012-03-01
2012-03-02
2012-03-05
2012-03-06
2012-03-07
2012-03-08
2012-03-09
2012-03-12
2012-03-13
2012-03-14
2012-03-15
2012-03-16
2012-03-19
2012-03-20
2012-03-21
2012-03-22
2012-03-26
2012-03-27
2012-03-28
2012-03-29
2012-03-30
2012-03-31
2012-04-05
2012-04-06
2012-04-09
2012-04-10
2012-04-11
2012-04-12
2012-04-13
2012-04-16
2012-04-17
2012-04-18
2012-04-20
2012-04-23
2012-04-24
2012-04-25
2012-04-26
2012-04-27
2012-05-02
2012-05-03
2012-05-04
2012-05-15

5.7000
5.9000
5.9000
5.7000
5.7000
5.6000
5.4500
5.4500
5.3000
5.1500
5.0000
4.9500
5.0000
4.7500
5.2000
5.1500
5.2000
5.2500
5.2000
5.1000
5.1000
5.2000
5.2000
5.2000
5.2500
5.3000
5.3000
5.3000
5.3000
5.1000
4.8000
4.8000
4.8000
4.8000
4.7000
4.5000
4.5000
4.5000
4.8000
4.8000
4.8000
4.8000
4.8000
4.8000
4.8000
4.8000
4.3000

5.7000
5.9000
5.9000
5.7000
5.7000
5.6000
5.4500
5.4500
5.3000
5.1500
5.0000
4.9500
5.0000
4.7500
4.7500
4.7000
4.7500
4.7800
4.7000
4.6000
4.6000
4.7500
4.7500
4.7500
4.8000
5.0000
5.0000
4.8000
4.8000
4.9000
4.6000
4.5000
4.5000
4.5000
4.5000
4.3500
4.3500
4.3500
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.1500

2012-05-16
2012-05-17
2012-05-18
2012-05-23
2012-05-24
2012-05-28
2012-05-29
2012-06-04
2012-06-06
2012-06-07
2012-06-08
2012-06-11
2012-06-12
2012-06-13
2012-06-14
2012-06-15
2012-06-18
2012-06-19
2012-06-20
2012-06-25
2012-06-26
2012-06-28
2012-07-02
2012-07-03
2012-07-04
2012-07-06
2012-07-09
2012-07-10
2012-07-11
2012-07-16
2012-07-18
2012-07-19
2012-07-20
2012-07-21
2012-07-22
2012-07-23
2012-07-24
2012-07-25
2012-07-26
2012-07-27
2012-07-28
2012-07-29
2012-07-30
2012-07-31
2012-08-01
2012-08-02
2012-08-03

4.3000
4.5000
4.4000
4.3000
4.3000
4.5000
4.5000
4.2000
4.0000
4.0000
3.9000
3.9000
3.9000
3.9000
3.8000
3.8000
4.2000
4.5000
4.8000
4.8000
5.0000
5.5000
4.8000
4.5000
4.2000
4.1000
3.8500
3.8500
4.4000
4.4000
4.4000

4.1500
4.1000
4.0000
4.0000
4.0000
4.2500
4.2500
3.8000
3.8000
3.8000
3.8000
3.8000
3.8000
3.8000
3.5000
3.5000
3.8000
4.2000
4.4000
4.4000
4.6000
5.0000
4.3000
4.0500
3.9000
3.7500
3.7500
3.7500
4.2000
4.2000
4.2000
4.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000

2012-08-04
2012-08-05
2012-08-06
2012-09-03
2012-09-04
2012-09-06
2012-09-12
2012-09-13
2012-09-14
2012-09-17
2012-09-18
2012-09-19
2012-09-20
2012-09-21
2012-09-24
2012-09-25
2012-09-26
2012-09-27
2012-09-28
2012-10-08
2012-10-09
2012-10-10
2012-10-11
2012-10-12
2012-10-15
2012-10-16
2012-10-17
2012-10-18
2012-10-19
2012-10-22
2012-10-23
2012-10-24
2012-10-25
2012-10-26
2012-10-29
2012-10-30
2012-10-31
2012-11-01
2012-11-05
2012-11-06
2012-11-07
2012-11-08
2012-11-09
2012-11-12
2012-11-13
2012-11-14
2012-11-15

4.8000
4.7500
4.4500
4.3500
4.3500
4.5000
4.5000
4.5000
5.0000
5.0000
5.1000
5.0000
5.0000
4.9500
4.9500
5.0500
4.8000
4.8000
4.9000
4.7000
4.7000
4.6000
4.6500
4.5000
4.5000
4.4500
4.7000
4.7000
4.4500
4.4500
4.4500
4.5500
4.7500
4.7500
4.5500
4.5000
4.3500
4.3500
4.3000
4.3000
4.3500
4.3500
4.3000
4.3000

5.2000
5.2000
5.2000
4.6000
4.5000
4.2500
4.2500
4.4500
4.5500
4.5500
4.6000
5.1000
5.1000
5.2000
5.1000
5.1000
5.1000
5.1000
5.2000
5.0000
5.0000
5.1000
4.9500
4.9500
4.7000
4.7500
4.6500
4.6500
4.6500
4.8000
4.8000
4.5000
4.5000
4.5000
4.6000
4.8000
4.8000
4.6000
4.5500
4.5000
4.5000
4.4500
4.4500
4.4500
4.4500
4.4500
4.4000

2012-11-16
2012-11-17
2012-11-19
2012-11-20
2012-11-21
2012-11-22
2012-11-26
2012-11-27
2012-11-28
2012-11-29
2012-11-30
2012-12-03
2012-12-04
2012-12-05
2012-12-06
2012-12-07
2012-12-10
2012-12-11
2012-12-12
2012-12-13
2012-12-14
2012-12-17
2012-12-18
2012-12-19
2012-12-20
2012-12-21
2012-12-24
2012-12-25
2012-12-26
2012-12-27
2012-12-28
2012-12-31
2013-01-04
2013-01-05
2013-01-06
2013-01-07
2013-01-08
2013-01-09
2013-01-10
2013-01-11
2013-01-14
2013-01-15
2013-01-16
2013-01-17
2013-01-18
2013-01-21
2013-01-22

4.3000
4.4000
4.4500
4.4500
4.3500
4.5000
4.5000
4.5500
4.5500
4.5500
4.5500
4.4500
4.4500
4.4500
4.4500
4.4500
4.5500
4.5500
4.5500
4.5500
4.6500
4.6500
4.6500
4.6500
4.7500
4.7500
4.8000
4.7500
4.7500
4.7500
4.9500
4.9500
4.9000
4.9000
4.9000
4.4500
4.4000
4.4000
4.3500
4.3500
4.3000
4.3000
4.2500
4.3500
4.3500
4.3500

4.4000
4.5000
4.5000
4.5500
4.5500
4.4500
4.6000
4.6000
4.7000
4.7000
4.7000
4.7000
4.6000
4.6000
4.6000
4.6000
4.6000
4.7000
4.7000
4.8000
4.8000
4.8000
4.8000
4.8000
4.8000
4.9000
4.9000
4.9500
4.9000
4.9000
4.9000
5.1000
5.1000
5.0000
5.0000
5.0000
4.6000
4.5000
4.4500
4.4500
4.4500
4.4000
4.4000
4.4000
4.4500
4.4500
4.4500

2013-01-23
2013-01-24
2013-01-25
2013-01-26
2013-01-28
2013-01-29
2013-01-30
2013-01-31
2013-02-01
2013-02-04
2013-02-05
2013-02-06
2013-02-07
2013-02-17
2013-02-18
2013-02-19
2013-02-20
2013-02-21
2013-02-22
2013-02-25
2013-02-26
2013-02-27
2013-02-28
2013-03-01
2013-03-04
2013-03-05
2013-03-06
2013-03-07
2013-03-08
2013-03-11
2013-03-12
2013-03-13
2013-03-14
2013-03-15
2013-03-18
2013-03-19
2013-03-20
2013-03-21
2013-03-22
2013-03-25
2013-03-26
2013-03-27
2013-03-28
2013-03-29
2013-04-01
2013-04-02
2013-04-03

4.3000
4.3000
4.3000
4.3000
4.3500
4.4500
4.5000
4.4000
4.4000
4.4000
4.3500
4.3500
4.2500
4.1000
4.1000
4.1000
4.0500
4.0000
4.2000
4.2000
4.2000
4.2500
4.2000
4.0500
4.0000
4.0000
4.0000
4.0000
4.0000
3.9000
3.8000
3.8000
3.8500
3.8500
3.8000
3.8000
3.8000
3.9500
3.9500
4.0000
4.0000
4.0500
4.0500
3.9500
3.9500
4.0000

4.4000
4.4000
4.4000
4.4000
4.4000
4.4500
4.6000
4.6500
4.5000
4.5000
4.5000
4.5000
4.5000
4.3000
4.2500
4.2500
4.2000
4.2000
4.1500
4.3500
4.3000
4.3000
4.4000
4.3000
4.1500
4.1500
4.1500
4.1500
4.1500
4.1500
4.0500
3.9500
3.9500
4.0000
3.9500
3.8500
3.8500
3.8500
4.0500
4.0500
4.1000
4.1000
4.1500
4.1500
4.0500
4.0500
4.1000

2013-04-07
2013-04-08
2013-04-09
2013-04-10
2013-04-11
2013-04-12
2013-04-15
2013-04-16
2013-04-17
2013-04-18
2013-04-19
2013-04-22
2013-04-23
2013-04-24
2013-04-25
2013-04-26
2013-04-27
2013-04-28
2013-05-02
2013-05-03
2013-05-06
2013-05-07
2013-05-08
2013-05-09
2013-05-10
2013-05-13
2013-05-14
2013-05-15
2013-05-16
2013-05-17
2013-05-20
2013-05-21
2013-05-22
2013-05-23
2013-05-24
2013-05-27
2013-05-28
2013-05-29
2013-05-30
2013-05-31
2013-06-03
2013-06-04
2013-06-05
2013-06-06
2013-06-07
2013-06-08
2013-06-09

4.0500
4.0000
3.9500
3.8000
3.8000
3.8000
3.7500
3.7500
3.7000
3.6500
3.7000
3.6500
3.7500
3.7500
3.8500
3.9000
3.9000
3.9000
3.9000
3.9000
3.9000
3.7000
3.7000
3.7000
3.6500
3.7000
3.7000
3.7500
3.7500
3.8000
3.8000
3.8500
3.9000
3.9000
3.9000
3.9000
3.9500
3.9500
3.9500
3.9500
3.9500
3.8500
3.9500
4.0500
4.5500
5.0500
6.5500

4.1500
4.1000
4.0500
3.9500
3.9500
3.9500
3.8500
3.8500
3.8000
3.7500
3.8000
3.7500
3.8500
3.8500
3.9500
4.0000
4.0000
4.0000
4.0000
4.0000
4.0000
3.8000
3.8000
3.8000
3.7500
3.8000
3.8000
3.8500
3.8500
3.9000
3.9000
3.9500
4.0000
4.0000
4.0000
4.0000
4.0500
4.0500
4.0500
4.0500
4.0500
3.9500
4.0500
4.1500
4.6500
5.1500
6.6500

2013-06-13
2013-06-14
2013-06-17
2013-06-18
2013-06-19
2013-06-20
2013-06-21
2013-06-24
2013-06-25
2013-06-26
2013-06-27
2013-06-28
2013-07-01
2013-07-02
2013-07-03
2013-07-04
2013-07-05
2013-07-08
2013-07-09
2013-07-10
2013-07-11
2013-07-12
2013-07-15
2013-07-16
2013-07-17
2013-07-18
2013-07-19
2013-07-22
2013-07-23
2013-07-24
2013-07-25
2013-07-26
2013-07-29
2013-07-30
2013-07-31
2013-08-01
2013-08-02
2013-08-05
2013-08-06
2013-08-07
2013-08-08
2013-08-09
2013-08-12
2013-08-13
2013-08-14
2013-08-15
2013-08-16

5.5500
6.0500
5.8500
5.7000
5.9000
7.6000
9.6000
7.6000
8.1000
8.0500
7.5500
7.5500
7.3500
6.3500
6.0500
5.5500
5.7500
5.5500
4.8500
4.8500
4.7000
4.7000
5.1000
5.2000
5.2000
5.2000
5.2000
5.2000
5.4000
5.6000
5.7000
5.7000
5.5000
5.3000
5.4000
5.4000
5.3000
5.3000
5.1500
5.1000
5.1000
5.1000
5.0000
4.9500
5.2000
5.3000
5.3000

5.6500
6.1500
5.9500
5.8000
6.0000
7.7000
9.7000
7.7000
8.2000
8.1500
7.6500
7.6500
7.4500
6.4500
6.1500
5.6500
5.6500
5.6500
4.9500
4.9500
4.9000
4.9000
5.2000
5.3000
5.3000
5.3000
5.3000
5.3000
5.5000
5.7000
5.8000
5.8000
5.6000
5.4000
5.5000
5.5000
5.4000
5.4000
5.3000
5.2000
5.2000
5.2000
5.1000
5.1000
5.3000
5.4000
5.4000

2013-08-19
2013-08-20
2013-08-21
2013-08-22
2013-08-23
2013-08-26
2013-08-27
2013-08-28
2013-08-29
2013-08-30
2013-09-02
2013-09-03
2013-09-04
2013-09-05
2013-09-06
2013-09-09
2013-09-10
2013-09-11
2013-09-12
2013-09-13
2013-09-16
2013-09-17
2013-09-18
2013-09-22
2013-09-23
2013-09-24
2013-09-25
2013-09-26
2013-09-27
2013-09-29
2013-09-30
2013-10-08
2013-10-09
2013-10-10
2013-10-11
2013-10-12
2013-10-14
2013-10-15
2013-10-16
2013-10-17
2013-10-18
2013-10-21
2013-10-22
2013-10-23
2013-10-24
2013-10-25
2013-10-28

5.3000
5.5000
5.6000
5.7000
5.7000
5.6000
5.4500
5.4500
5.4500
5.6500
5.3000
5.3000
5.4000
5.4500
5.4500
5.5000
5.4500
5.4500
5.4500
5.4500
5.4500
5.5000
5.5000
5.6000
5.6500
5.6500
5.6500
5.6500
5.6500
5.7500
5.7500
5.6500
5.6500
5.6500
5.5500
5.4500
5.2000
5.1500
5.1500
5.1000
5.0500
5.0500
5.0500
5.1000
5.2500
5.3000
5.3000

5.4000
5.6500
5.7000
5.8000
5.8000
5.7000
5.6000
5.6000
5.6000
5.7500
5.4000
5.4000
5.4500
5.5500
5.5500
5.6500
5.6000
5.5500
5.5500
5.5500
5.5500
5.6500
5.6500
5.7000
5.7500
5.7500
5.7500
5.7500
5.7500
5.8500
5.8500
5.7500
5.7500
5.7500
5.6500
5.5500
5.3500
5.3000
5.3000
5.2500
5.1500
5.1500
5.1500
5.2000
5.3500
5.4000
5.4000

2013-10-29
2013-10-30
2013-10-31
2013-11-01
2013-11-04
2013-11-05
2013-11-06
2013-11-07
2013-11-08
2013-11-11
2013-11-12
2013-11-13
2013-11-14
2013-11-15
2013-11-18
2013-11-19
2013-11-20
2013-11-21
2013-11-22
2013-11-25
2013-11-26
2013-11-27
2013-11-28
2013-11-29
2013-12-02
2013-12-03
2013-12-04
2013-12-05
2013-12-06
2013-12-09
2013-12-10
2013-12-11
2013-12-12
2013-12-13
2013-12-16
2013-12-17
2013-12-18
2013-12-19
2013-12-20
2013-12-23
2013-12-24
2013-12-25
2013-12-26
2013-12-27
2013-12-30
2013-12-31
2014-01-02

5.3000
5.3000
5.2500
5.2000
5.1500
5.1500
5.1500
5.1500
5.1500
5.1500
5.2500
5.2500
5.3500
5.3500
5.4000
5.5000
5.5000
5.6000
5.7000
5.9500
5.9500
5.9500
5.9500
5.9500
5.9000
5.9000
5.8500
5.9000
5.9000
5.9500
6.0000
6.1500
6.1000
6.1000
6.0000
6.0500
6.1500
7.3500
7.1500
6.9500
6.9500
6.5500
6.2500
6.0500
6.0500
6.0500
6.0500

5.4000
5.4000
5.3500
5.3000
5.2500
5.2500
5.2500
5.2500
5.2500
5.2500
5.3500
5.3500
5.4500
5.4500
5.5000
5.6000
5.6000
5.7000
5.8000
5.9500
6.0500
6.0500
6.0500
6.0500
6.0000
6.0000
5.9500
6.0000
6.0000
6.0500
6.1000
6.2500
6.2000
6.2000
6.1000
6.1500
6.2500
7.4500
7.2500
7.0500
7.0500
6.6500
6.3500
6.1500
6.1500
6.1500
6.1500

2014-01-03
2014-01-06
2014-01-07
2014-01-08
2014-01-09
2014-01-10
2014-01-13
2014-01-14
2014-01-15
2014-01-16
2014-01-17
2014-01-20
2014-01-21
2014-01-22
2014-01-23
2014-01-24
2014-01-26
2014-01-27
2014-01-28
2014-02-08
2014-02-10
2014-02-11
2014-02-12
2014-02-13
2014-02-14
2014-02-17
2014-02-18
2014-02-19
2014-02-20
2014-02-21
2014-02-24
2014-02-25
2014-02-26
2014-02-27
2014-02-28
2014-03-03
2014-03-04
2014-03-05
2014-03-06
2014-03-07
2014-03-10
2014-03-11
2014-03-12
2014-03-13
2014-03-14
2014-03-17
2014-03-18

5.9500
5.9500
5.9500
5.9500
5.9500
5.9500
5.9500
5.9500
5.9500
5.9500
5.9500
5.9500
6.0500
6.0500
6.1000
6.1000
6.1000
6.1000
6.1000
6.6000
6.0500
5.8500
5.8500
5.8000
5.7500
5.6500
5.6000
5.4500
5.4500
5.5000
5.4000
5.4000
5.4000
5.4500
5.4500
5.4000
5.3000
5.2000
5.1000
5.0000
5.0000
4.9000
4.9000
4.9000
4.9000
4.8500
4.8500

6.0500
6.0500
6.0500
6.0500
6.0500
6.0500
6.0500
6.0500
6.0500
6.0500
6.0500
6.0500
6.1500
6.1500
6.2000
6.2000
6.2000
6.2000
6.2000
6.7000
6.1500
5.9500
5.9500
5.9000
5.8500
5.7500
5.7000
5.5500
5.5500
5.6000
5.5000
5.5000
5.5000
5.5500
5.5500
5.5000
5.4000
5.3000
5.2000
5.1000
5.1000
5.0000
5.0000
5.0000
5.0000
4.9500
4.9500

2014-03-19
2014-03-20
2014-03-21
2014-03-24
2014-03-25
2014-03-26
2014-03-27
2014-03-28
2014-03-31
2014-04-01
2014-04-02
2014-04-03
2014-04-04
2014-04-08
2014-04-09
2014-04-10
2014-04-11
2014-04-14
2014-04-15
2014-04-16
2014-04-17
2014-04-18
2014-04-21
2014-04-22
2014-04-23
2014-04-24
2014-04-25
2014-04-28
2014-04-29
2014-04-30
2014-05-04
2014-05-05
2014-05-06
2014-05-08
2014-05-09
2014-05-12
2014-05-13
2014-05-14
2014-05-15
2014-05-16
2014-05-19
2014-05-20
2014-05-21
2014-05-22
2014-05-23
2014-05-26
2014-05-27

4.8500
4.8000
4.8000
4.8000
4.9000
4.9000
4.8000
4.8000
4.8500
4.8500
4.8500
4.8500
4.8000
4.8000
4.7500
4.7500
4.7500
4.6500
4.6000
4.6000
4.6000
4.5000
4.2500
4.2500
4.2500
4.3500
4.3500
4.4000
4.4500
4.5000
4.4500
4.4500
4.3500
4.2500
4.2500
4.2000
4.2000
4.2000
4.2500
4.4500
4.6000
4.6000
4.5500
4.5000
4.3500
4.3500
4.3500

4.9500
4.9000
4.9000
4.9000
5.0000
5.0000
4.9000
4.9000
4.9500
4.9500
4.9500
4.9500
4.9000
4.9000
4.8500
4.8500
4.8500
4.7500
4.7000
4.7000
4.7000
4.6000
4.3500
4.3500
4.3500
4.4500
4.4500
4.5000
4.5500
4.6000
4.5500
4.5500
4.4500
4.3500
4.3500
4.3000
4.3000
4.3000
4.3500
4.5500
4.7000
4.7000
4.7000
4.6000
4.4500
4.4500
4.4500

2014-05-28
2014-05-29
2014-05-30
2014-06-03
2014-06-04
2014-06-05
2014-06-06
2014-06-09
2014-06-10
2014-06-11
2014-06-12
2014-06-13
2014-06-17
2014-06-18
2014-06-19
2014-06-20
2014-06-23
2014-06-24
2014-06-25
2014-06-26
2014-06-27
2014-06-30
2014-07-01
2014-07-02
2014-07-03
2014-07-04
2014-07-07
2014-07-08
2014-07-09
2014-07-10
2014-07-11
2014-07-14
2014-07-15
2014-07-16
2014-07-17
2014-07-18
2014-07-21
2014-07-22
2014-07-23
2014-07-24
2014-07-25
2014-07-28
2014-07-29
2014-07-30
2014-07-31
2014-08-01
2014-08-04

4.3500
4.3500
4.3000
4.3000
4.2500
4.2000
4.2000
4.2000
4.2500
4.2500
4.2500
4.2500
4.4500
4.4000
4.4000
4.4000
4.4500
4.4000
4.3500
4.3500
4.3500
4.7500
4.4000
4.3500
4.3500
4.1000
4.0000
4.0000
4.0000
4.0500
4.2000
4.1000
4.1000
4.1000
4.1000
4.2000
4.2000
4.4000
4.4000
4.3500
4.3000
4.1000
4.0500
4.0500
4.0500
4.0000
3.9500

4.4500
4.4500
4.4000
4.4000
4.3500
4.3000
4.3000
4.3000
4.3500
4.3500
4.3500
4.3500
4.5500
4.5000
4.5000
4.5000
4.5500
4.5000
4.4500
4.4500
4.4500
4.8500
4.5000
4.4500
4.4500
4.2000
4.1000
4.1000
4.1000
4.1500
4.3000
4.2000
4.2000
4.2000
4.2000
4.3000
4.3000
4.5000
4.5000
4.4500
4.4000
4.2000
4.1500
4.1500
4.1500
4.1000
4.0500

2014-08-05
2014-08-06
2014-08-07
2014-08-08
2014-08-11
2014-08-12
2014-08-13
2014-08-14
2014-08-15
2014-08-18
2014-08-19
2014-08-20
2014-08-21
2014-08-22
2014-08-25
2014-08-26
2014-08-27
2014-08-29
2014-09-01
2014-09-02
2014-09-03
2014-09-04
2014-09-05
2014-09-09
2014-09-10
2014-09-11
2014-09-12
2014-09-15
2014-09-16
2014-09-17
2014-09-18
2014-09-19
2014-09-22
2014-09-23
2014-09-24
2014-09-25
2014-09-26
2014-09-28
2014-09-29
2014-09-30
2014-10-08
2014-10-09
2014-10-10
2014-10-11
2014-10-13
2014-10-14
2014-10-15

3.9500
3.9000
3.9500
3.9500
4.1000
4.1000
4.0500
4.0500
4.1000
4.1000
4.1000
4.1500
4.1000
4.1000
4.1500
4.1000
4.2000
4.1500
4.1000
4.1000
4.0500
4.0500
4.0500
4.1500
4.1500
4.1000
4.1000
4.1500
4.1500
4.1500
4.1500
4.1500
4.1000
4.1000
4.1000
4.1500
4.2500
4.2500
4.2000
4.3000
4.2000
4.1000
4.0500
4.0000
4.0000
3.9500
3.9000

4.0500
4.0000
4.0500
4.0500
4.2000
4.2000
4.1500
4.1500
4.2000
4.2000
4.2000
4.2500
4.2000
4.2000
4.2500
4.2000
4.3000
4.2500
4.2000
4.2000
4.1500
4.1500
4.1500
4.2500
4.2500
4.2000
4.2000
4.2500
4.2500
4.2500
4.2500
4.2500
4.2000
4.2000
4.2000
4.2500
4.3000
4.3500
4.3000
4.4000
4.3000
4.2000
4.1500
4.1000
4.1000
4.0500
4.0000

2014-10-16
2014-10-17
2014-10-20
2014-10-21
2014-10-22
2014-10-23
2014-10-24
2014-10-27
2014-10-28
2014-10-29
2014-10-30
2014-10-31
2014-11-03
2014-11-04
2014-11-05
2014-11-06
2014-11-07
2014-11-10
2014-11-11
2014-11-12
2014-11-13
2014-11-17
2014-11-18
2014-11-19
2014-11-20
2014-11-21
2014-11-24
2014-11-25
2014-11-26
2014-11-27
2014-11-28
2014-12-01
2014-12-02
2014-12-03
2014-12-04
2014-12-05
2014-12-08
2014-12-09
2014-12-10
2014-12-11
2014-12-12
2014-12-15
2014-12-16
2014-12-17
2014-12-18
2014-12-19
2014-12-22

3.9500
3.9500
3.9000
3.7500
3.7000
3.6000
3.7000
3.7000
3.7000
3.5500
3.5500
3.4500
3.4500
3.4500
3.4500
3.6500
3.7500
3.5000
3.5000
3.6500
3.6000
3.6000
3.8000
3.8300
3.9300
3.9800
3.9500
3.9000
3.8500
4.0500
4.4500
4.0000
4.0000
4.0000
4.0500
4.2000
4.2000
4.2000
4.3000
4.4500
4.4500
4.6500
4.9500
5.1000
5.4500
5.2500
5.1500

4.0500
4.0500
4.0000
3.8500
3.8000
3.7000
3.8000
3.8000
3.8000
3.6500
3.6500
3.5500
3.5500
3.5500
3.5500
3.7500
3.8500
3.6000
3.6000
3.7500
3.7000
3.7000
3.9000
3.9300
4.0300
4.0800
4.0500
4.0000
3.9500
4.1500
4.5500
4.1000
4.1000
4.1000
4.1500
4.3000
4.3000
4.3000
4.4000
4.5500
4.5500
4.7500
5.0500
5.2000
5.5500
5.3500
5.2500

2014-12-23
2014-12-24
2014-12-25
2014-12-26
2014-12-29
2014-12-30
2014-12-31
2015-01-04
2015-01-05
2015-01-06
2015-01-07
2015-01-08
2015-01-09
2015-01-12
2015-01-13
2015-01-14
2015-01-15

Frontpage

5.1000
5.0000
4.9000
4.8000
4.7500
4.6500
4.8500
4.5500
4.3000
4.1500
4.0000
4.3000
4.4500
4.4000
4.4000
4.2500
4.2000

5.2000
5.1000
5.0000
4.9000
4.8500
4.7500
4.9500
4.6500
4.4000
4.2500
4.1000
4.4000
4.5500
4.5000
4.5000
4.3500
4.3000

6 6 Month Notes Payable Discount Rate

Direct Discount Rate (daily)
Mid West

Yangtse Delta

1.3000
1.3000
1.3000
1.3000
1.2500
1.2500
1.2000
1.2000
1.3000
1.3300
1.3300
1.3000
1.3000
1.4500
1.4500
1.4500
1.4500
1.3800
1.3800
1.3800
1.3000
1.4000
1.3500
1.3000
1.3000
1.3000
1.2800
1.2800
1.2800
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2800
1.2800
1.2800
1.2600
1.2600
1.2600
1.2600
1.2600
1.2600
1.2600
1.2600

1.2800
1.2800
1.2800
1.2800
1.2800
1.2800
1.2800
1.2800
1.2800
1.2800
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2500
1.2600
1.2600
1.2800
1.2800
1.2800
1.2800
1.2600
1.2600
1.2600
1.2800
1.2800
1.2800

1.3300
1.3300
1.4300
1.4300
1.4700
1.4700
1.4700
1.4700
1.4700
1.4500
1.4500
1.4500
1.4500
1.4500
1.4500
1.4500
1.4500
1.4500
1.4500
1.5000
1.5000
1.6500
1.6500
1.6500
1.9000
1.9000
2.0000
2.0000
2.0000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000

1.9000
1.9000
1.8800
1.8800
1.8800
1.8800
1.8300
1.8300
1.8300
1.8300
1.8300
1.8300
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8200
1.8200
1.9200
1.9200
1.9200
2.3000
2.3000
2.3000
2.3000
2.3000
2.3000
2.3000
2.1000
2.0500
2.0500
2.0500
2.0500
1.9300
1.9300
2.5000
2.5000
2.5000
2.5000
2.1000
2.1000
2.1000

1.9800
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
1.9600
2.0000
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.1200
2.1200
2.1200
2.1200
2.1200
2.1200
2.1200
2.0500
2.0000

2.1000
2.1000
2.1000
1.9500
1.9500
1.9300
1.9300
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9500
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0500
2.0000
1.9500

2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0000
2.0500
2.1500
2.3000
3.5000
3.5000
3.5000
2.7000
2.7000
2.7000
2.7000
2.7000
2.7000
3.0000
3.0000
3.0000
3.5000
3.5000
3.5000
3.5000
3.6000
3.6000
3.2000
3.3000
3.3000
3.3000
3.2000
3.2000
3.0000
3.0000
2.8000
2.8000
2.8000
2.9000
2.9000
2.9000
2.8500
2.8500
2.8000
2.8000

1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
2.0500
2.1500
2.3000
3.5000
3.5000
3.5000
2.7000
2.7000
2.7000
2.7000
2.7000
2.7000
3.0000
3.0000
3.0000
3.5000
3.5000
3.5000
3.5000
3.6000
3.6000
3.2000
3.3000
3.3000
3.3000
3.2000
3.2000
3.0000
3.0000
2.8000
2.8000
2.8000
2.9000
2.9000
2.9000
2.8500
2.8500
2.8000
2.8000

2.8000
2.8000
2.8000
3.0000
3.2000
3.2000
3.0000
3.0000
2.9000
2.8000
2.8000
2.8000
2.7000
2.7000
2.7000
2.7000
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6000
2.6000
2.6000
2.6000
2.6000
2.5500
2.5500
2.5500
2.5500

2.8000
2.8000
2.8000
3.0000
3.2000
3.2000
3.0000
3.0000
2.9000
2.8000
2.8000
2.8000
2.7000
2.7000
2.7000
2.7000
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6500
2.6000
2.6000
2.6000
2.6000
2.6000
2.5500
2.5500
2.5500
2.5500

2.5500
2.6000
2.8000
2.8000
3.0500
3.1000
3.1000
3.1000
3.1000
3.2000
3.3000
3.3000
3.3000
3.5500
4.2000
4.3000
4.8000
4.8000
5.0000
5.0000
4.3000
4.3000
4.3000
3.8500
3.6500
3.4000
3.4000
3.4000
3.4000
3.1000
3.1000
3.1000
3.1000
3.1000
3.1500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500

2.5500
2.6000
2.8000
2.8000
3.0500
3.1000
3.1000
3.1000
3.1000
3.2000
3.3000
3.3000
3.3000
3.5500
4.2000
4.3000
4.8000
4.8000
5.0000
5.0000
4.3000
4.3000
4.3000
3.8500
3.6500
3.4000
3.4000
3.4000
3.4000
3.1000
3.1000
3.1000
3.1000
3.1000
3.1500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500
3.0500

3.0500
3.0500
3.0000
3.0000
2.9800
2.9800
2.9800
2.8000
2.8500
2.8500
2.8500
2.9000
2.9500
2.9500
2.9500
3.0000
3.0500
3.0500
3.0500
2.9500
2.9500
3.0000
3.0000
3.0000
3.0500
3.6000
3.6000
3.4000
3.2500
3.3000
3.3000
3.7000
3.7000
4.2000
4.2000
4.2000
3.8000
4.0000
4.0000
4.5000
4.5000
4.3000
4.0000
3.7500
3.5500
3.5500
3.4000

3.0500
3.0500
3.0000
3.0000
2.9800
2.9800
2.9800
2.8000
2.8500
2.8500
2.8500
2.9000
2.9500
2.9500
2.9500
3.0000
3.0500
3.0500
3.0500
2.9500
2.9500
3.0000
3.0000
3.0000
3.0500
3.6000
3.6000
3.4000
3.2500
3.3000
3.3000
3.7000
3.7000
4.2000
4.2000
4.2000
3.8000
4.0000
4.0000
4.5000
4.5000
4.3000
4.0000
3.7500
3.5500
3.5500
3.4000

3.4000
3.5000
3.5000
3.7000
3.7000
3.9000
3.7500
3.7500
4.0000
4.0000
4.0000
4.0000
4.0000
4.0000
3.7000
3.7000
3.7000
3.6000
3.6000
3.6000
3.7500
3.7000
4.1000
4.1000
4.3000
4.3000
4.3000
4.9000
4.9000
5.2000
5.2000
5.2000
5.2000
5.2000
4.8000
4.8000
5.0000
5.1000
5.1000
5.4000
5.4000
5.8000
5.9000
5.9000
5.6000
5.3000
5.3000

3.4000
3.5000
3.5000
3.7000
3.7000
3.9000
3.7500
3.7500
4.0000
4.0000
4.0000
4.0000
4.0000
4.0000
3.7000
3.7000
3.7000
3.6000
3.6000
3.6000
3.7500
3.7000
4.1000
4.1000
4.3000
4.3000
4.3000
4.9000
4.9000
5.2000
5.2000
5.2000
5.2000
5.2000
4.8000
4.8000
5.0000
5.1000
5.1000
5.4000
5.4000
5.8000
5.9000
5.9000
5.6000
5.3000
5.3000

5.0500
5.0500
5.0000
6.0000
7.0000
6.5000
6.5000
6.5000
6.5000
5.3500
5.2000
5.2000
4.8000
4.8000
4.6000
4.5000
4.7000
4.9000
5.3000
5.5000
5.4000
5.8000
5.8000
7.5000
8.0000
8.0000
8.5000
8.5000
8.0000
7.5000
7.5000
6.3000
6.2000
5.8000
5.7000
6.2000
6.5000
6.3000
6.2500
6.0000
6.3000
5.6000
5.6000
5.4500
5.4500
5.3500
5.3500

5.0500
5.0500
5.0000
6.0000
7.0000
6.5000
6.5000
6.5000
6.5000
5.3500
5.2000
5.2000
4.8000
4.8000
4.6000
4.5000
4.7000
4.9000
5.3000
5.5000
5.4000
5.8000
5.8000
7.5000
8.0000
8.0000
8.5000
8.5000
8.0000
7.5000
7.5000
6.3000
6.2000
5.8000
5.7000
6.2000
6.5000
6.3000
6.2500
6.0000
6.3000
5.6000
5.6000
5.4500
5.4500
5.3500
5.3500

5.3500
5.3500
5.3500
5.4000
5.5000
5.5000
5.5000
5.5000
5.4000
5.6000
5.5000
5.5000
5.5000
5.7000
5.7000
5.4000
5.4000
5.4000
5.4000
5.6000
5.4000
5.3000
5.0000
5.0000
5.0000
4.8000
4.8000
4.9500
4.9500
4.9500
5.0000
5.1000
5.1000
5.1000
5.1000
5.1000
5.0000
5.0000
4.8000
4.8000
4.8000
4.8000
5.1000
5.1000
5.0000
5.0000
5.3000

5.3500
5.3500
5.3500
5.4000
5.5000
5.5000
5.5000
5.5000
5.4000
5.6000
5.5000
5.5000
5.5000
5.7000
5.7000
5.4000
5.4000
5.4000
5.4000
5.6000
5.4000
5.3000
5.0000
5.0000
5.0000
4.8000
4.8000
4.9500
4.9500
4.9500
5.0000
5.1000
5.1000
5.1000
5.1000
5.1000
5.0000
5.0000
4.8000
4.8000
4.8000
4.8000
5.1000
5.1000
5.0000
5.0000
5.3000

5.3000
5.3000
5.5000
5.6000
5.4000
5.3000
5.3000
5.3000
5.1000
5.3000
5.5000
5.8000
5.8000
5.9000
6.2000
7.0000
7.0000
7.0000
7.0000
7.5000
8.0000
8.0000
8.0000
7.6000
7.3000
7.5000
7.5000
7.5000
7.9000
7.9000
7.5000
7.5000
8.0000
8.0000
8.0000
8.5000
8.5000
8.5000
8.6000
9.0000
9.0000
8.5000
8.5000
8.3000
8.0000
8.0000
7.8000

5.3000
5.3000
5.5000
5.6000
5.4000
5.3000
5.3000
5.3000
5.1000
5.3000
5.5000
5.8000
5.8000
5.9000
6.2000
7.0000
7.0000
7.0000
7.0000
7.5000
8.0000
8.0000
8.0000
7.6000
7.3000
7.5000
7.5000
7.5000
7.9000
7.9000
7.5000
7.5000
8.0000
8.0000
8.0000
8.5000
8.5000
8.5000
8.6000
9.0000
9.0000
8.5000
8.5000
8.3000
8.0000
8.0000
7.8000

7.8000
7.8000
8.5000
9.0000
9.0000
9.0000
9.0000
9.0000
9.5000
9.0000
9.5000
9.5000
9.5000
10.0000
12.0000
12.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
9.5000
9.5000
9.5000
9.5000
9.0000
8.5000
7.8000
7.5000
7.5000
7.8000
7.8000
7.5000
7.5000
7.8000
7.8000
7.8000
7.8000
7.6000
7.5000
7.5000
8.2000
8.5000
8.8000
8.5000

7.8000
7.8000
8.5000
9.0000
9.0000
9.0000
9.0000
9.0000
9.5000
9.0000
9.5000
9.5000
9.5000
10.0000
12.0000
12.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
13.0000
9.5000
9.5000
9.5000
9.5000
9.0000
8.5000
7.8000
7.5000
7.5000
7.8000
7.8000
7.5000
7.5000
7.8000
7.8000
7.8000
7.8000
7.6000
7.5000
7.5000
8.2000
8.5000
8.8000
8.5000

8.2000
8.0000
8.0000
8.0000
7.5000
7.5000
7.0500
7.0500
7.0500
7.0500
7.0100
7.0100
7.0100
6.9000
6.9000
7.8000
7.8000
8.0000
8.0000
8.0000
8.0000
8.0000
7.7000
7.3000
7.0000
6.9000
6.8500
6.8500
7.0000
6.9000
7.0000
7.3000
6.9000
6.8000
6.6500
6.5000
6.3000
6.3000
6.1000
5.9000
5.8000
5.7500
5.7000
5.7000
5.8000
5.7000
5.7000

8.2000
8.0000
8.0000
8.0000
7.5000
7.5000
7.0500
7.0500
7.0500
7.0500
7.0100
7.0100
7.0100
6.9000
6.9000
7.8000
7.8000
8.0000
8.0000
8.0000
8.0000
8.0000
7.7000
7.3000
7.0000
6.9000
6.8500
6.8500
7.0000
6.9000
7.0000
7.3000
6.9000
6.8000
6.6500
6.5000
6.3000
6.3000
6.1000
5.9000
5.8000
5.7500
5.7000
5.7000
5.8000
5.7000
5.7000

5.7000
5.9000
5.9000
5.7000
5.7000
5.6000
5.4500
5.4500
5.3000
5.1500
5.0000
4.9500
5.0000
4.7500
4.7500
4.7000
4.7500
4.7800
4.7000
4.6000
4.6000
4.7500
4.7500
4.7500
4.8000
5.0000
5.0000
4.8000
4.8000
4.9000
4.6000
4.5000
4.5000
4.5000
4.5000
4.3500
4.3500
4.3500
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.1500

5.7000
5.9000
5.9000
5.7000
5.7000
5.6000
5.4500
5.4500
5.3000
5.1500
5.0000
4.9500
5.0000
4.7500
4.7500
4.7000
4.7500
4.7800
4.7000
4.6000
4.6000
4.7500
4.7500
4.7500
4.8000
5.0000
5.0000
4.8000
4.8000
4.9000
4.6000
4.5000
4.5000
4.5000
4.5000
4.3500
4.3500
4.3500
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.1500

4.1500
4.1000
4.0000
4.0000
4.0000
4.2500
4.2500
3.8000
3.8000
3.8000
3.8000
3.8000
3.8000
3.8000
3.5000
3.5000
3.8000
4.2000
4.4000
4.4000
4.6000
5.0000
4.3000
4.0500
3.9000
3.7500
3.7500
3.7500
4.2000
4.2000
4.2000
4.2000
4.2000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000
5.0000

4.1500
4.1000
4.0000
4.0000
4.0000
4.2500
4.2500
3.8000
3.8000
3.8000
3.8000
3.8000
3.8000
3.8000
3.5000
3.5000
3.8000
4.2000
4.4000
4.4000
4.6000
5.0000
4.3000
4.0500
3.9000
3.7500
3.7500
3.7500
4.2000
4.2000
4.2000

5.0000
5.0000
5.0000
4.6000
4.5000
4.2500
4.2500
4.4500
4.6000
4.5500
4.6000
5.1000
5.1000
5.2000
5.1500
5.1500
5.1000
5.1000
5.2000
5.0000
5.0000
5.1500
4.9000
4.9000
4.7000
4.7500
4.6000
4.6000
4.6000
4.7500
4.7500
4.5000
4.5000
4.5000
4.6000
4.8000
4.8000
4.6000
4.6000
4.5000
4.5000
4.4000
4.4000
4.4000
4.4000
4.4000
4.3500

4.6000
4.5000
4.2500
4.2500
4.2500
4.4000
4.4500
4.4500
4.9500
4.9500
5.0000
4.9500
4.9000
4.9000
4.9000
5.0000
4.8000
4.8000
4.9000
4.7000
4.7000
4.5500
4.6000
4.5000
4.5000
4.5000
4.7000
4.7000
4.3000
4.4000
4.4000
4.5000
4.7000
4.7000
4.5000
4.4000
4.3000
4.3000
4.3000
4.3000
4.3000
4.3000
4.2500
4.3000

4.3500
4.4500
4.4500
4.5000
4.5000
4.4000
4.6000
4.6000
4.6000
4.6000
4.6000
4.6000
4.5000
4.5500
4.5500
4.5500
4.5500
4.6000
4.6000
4.6000
4.6000
4.7000
4.7000
4.7000
4.7000
4.8000
4.8000
4.8500
4.8000
4.8000
4.8000
5.0000
5.0000
4.9500
4.9500
4.9500
4.5000
4.4500
4.4500
4.4000
4.4000
4.3500
4.3500
4.3000
4.4000
4.4000
4.4000

4.3000
4.3500
4.4000
4.4000
4.3000
4.4500
4.4500
4.5000
4.5000
4.5000
4.5000
4.4000
4.4500
4.4500
4.4500
4.4500
4.5000
4.5000
4.5000
4.5000
4.6000
4.6000
4.6000
4.6000
4.7000
4.7000
4.7500
4.7000
4.7000
4.7000
4.9000
4.9000
4.8500
4.8500
4.8500
4.4000
4.3500
4.3500
4.3000
4.3000
4.2500
4.2500
4.2000
4.3000
4.3000
4.3000

4.3500
4.3500
4.3500
4.3500
4.3500
4.4000
4.5000
4.5500
4.4500
4.4500
4.4500
4.4000
4.4000
4.3500
4.2000
4.2000
4.2000
4.2000
4.2000
4.3500
4.3000
4.3000
4.3500
4.3000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.0000
3.9000
3.9000
3.9500
3.9000
3.8500
3.8500
3.8500
4.0000
4.0000
4.0500
4.0500
4.1000
4.1000
4.0000
4.0000
4.0500

4.2500
4.2500
4.2500
4.2500
4.3000
4.4000
4.4500
4.3500
4.3500
4.3500
4.3000
4.3000
4.2000
4.1000
4.1000
4.0500
4.0000
3.9500
4.1000
4.1500
4.1500
4.2000
4.1500
4.0000
3.9500
3.9500
3.9500
3.9500
3.9500
3.8500
3.7500
3.7500
3.8000
3.8000
3.7500
3.7500
3.7500
3.9000
3.9000
3.9500
3.9500
4.0000
4.0000
3.9000
3.9000
3.9500

4.1000
4.0500
4.0000
3.9000
3.9000
3.9000
3.8000
3.8000
3.7500
3.7000
3.7500
3.7000
3.8000
3.8000
3.9000
3.9500
3.9500
3.9500
3.9500
3.9500
3.9500
3.7500
3.7500
3.7500
3.7000
3.7500
3.7500
3.8000
3.8000
3.8500
3.8500
3.9000
3.9500
3.9500
3.9500
3.9500
4.0000
4.0000
4.0000
4.0000
4.0000
3.9000
4.0000
4.1000
4.6000
5.1000
6.6000

4.0000
3.9500
3.9000
3.7500
3.7500
3.7500
3.7000
3.7000
3.6500
3.6000
3.6500
3.6000
3.7000
3.7000
3.8000
3.8500
3.8500
3.8500
3.8500
3.8500
3.8500
3.6500
3.6500
3.6500
3.6000
3.6500
3.6500
3.7000
3.7000
3.7500
3.7500
3.8000
3.8500
3.8500
3.8500
3.8500
3.9000
3.9000
3.9000
3.9000
3.9000
3.8000
3.9000
4.0000
4.5000
5.0000
6.5000

5.6000
6.1000
5.9000
5.7500
5.9500
7.6500
9.6500
7.6500
8.1500
8.1000
7.6000
7.6000
7.4000
6.4000
6.1000
5.6000
5.8000
5.6000
4.9000
4.9000
4.9000
4.9000
5.1500
5.2500
5.2500
5.2500
5.2500
5.2500
5.4500
5.6500
5.7500
5.7500
5.5500
5.3500
5.4500
5.4500
5.3500
5.3500
5.2000
5.1500
5.1500
5.1500
5.0500
5.0000
5.2500
5.3500
5.3500

5.5000
6.0000
5.8000
5.6000
5.8000
7.5000
9.5000
7.5000
8.0000
8.0000
7.5000
7.5000
7.3000
6.3000
6.0000
5.5000
5.7000
5.5000
4.8000
4.8000
4.6500
4.6500
5.0000
5.1000
5.1000
5.1000
5.1000
5.1000
5.3000
5.5000
5.6000
5.6000
5.4000
5.2000
5.3000
5.3000
5.2500
5.2500
5.0500
5.0000
5.0000
5.0000
4.9500
4.9000
5.1000
5.2500
5.2000

5.3500
5.6000
5.6500
5.7500
5.7500
5.6500
5.5000
5.5000
5.5000
5.7000
5.3500
5.3500
5.4500
5.5000
5.5000
5.6000
5.5500
5.5000
5.5000
5.5000
5.5000
5.6000
5.6000
5.6500
5.7000
5.7000
5.7000
5.7000
5.7000
5.8000
5.8000
5.7000
5.7000
5.7000
5.6000
5.5000
5.3000
5.2500
5.2500
5.2000
5.1000
5.1000
5.1000
5.1500
5.3000
5.3500
5.3500

5.2500
5.4500
5.5000
5.6500
5.6500
5.5000
5.4000
5.4000
5.4000
5.6000
5.2000
5.2000
5.3000
5.3500
5.3500
5.4500
5.4000
5.4000
5.4000
5.4000
5.4000
5.4500
5.4500
5.5000
5.5500
5.5500
5.5500
5.5500
5.5500
5.6500
5.6500
5.6000
5.6000
5.6000
5.5000
5.4000
5.1500
5.1000
5.1000
5.0500
5.0000
5.0000
5.0000
5.0500
5.1800
5.2500
5.2500

5.3500
5.3500
5.3000
5.2500
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.3000
5.3000
5.4000
5.4000
5.4500
5.5500
5.5500
5.6500
5.7500
6.0000
6.0000
6.0000
6.0000
6.0000
5.9500
5.9500
5.9000
5.9500
5.9500
6.0000
6.0500
6.2000
6.1500
6.1500
6.0500
6.1000
6.2000
7.4000
7.2000
7.0000
7.0000
6.6000
6.3000
6.1000
6.1000
6.1000
6.1000

5.2500
5.2500
5.2000
5.1500
5.1000
5.1000
5.1000
5.1000
5.1000
5.1000
5.2000
5.2000
5.3000
5.3000
5.3500
5.4500
5.4500
5.5500
5.6500
5.9000
5.9000
5.9000
5.9000
5.9000
5.8500
5.8500
5.8000
5.8500
5.8500
5.9000
5.9500
6.1000
6.0500
6.0500
5.9500
6.0000
6.1000
7.3000
7.1000
6.9000
6.9000
6.5000
6.2000
6.0000
6.0000
6.0000
6.0000

6.0000
6.0000
6.0000
6.0000
6.0000
6.0000
6.0000
6.0000
6.0000
6.0000
6.0000
6.0000
6.1000
6.1000
6.1500
6.1500
6.1500
6.1500
6.1500
6.6500
6.1000
5.9000
5.9000
5.8500
5.8000
5.7000
5.6500
5.5000
5.5000
5.5500
5.4500
5.4500
5.4500
5.5000
5.5000
5.4500
5.3500
5.2500
5.1500
5.0500
5.0500
4.9500
4.9500
4.9500
4.9500
4.9000
4.9000

5.9000
5.9000
5.9000
5.9000
5.9000
5.9000
5.9000
5.9000
5.9000
5.9000
5.9000
5.9000
6.0000
6.0000
6.0500
6.0500
6.0500
6.0500
6.0500
6.5000
6.0000
5.8000
5.8000
5.7500
5.7000
5.6000
5.5500
5.4000
5.4000
5.4500
5.3500
5.3500
5.3500
5.4000
5.4000
5.3500
5.2500
5.1500
5.0500
4.9500
4.9500
4.8500
4.8500
4.8500
4.8500
4.8000
4.8000

4.9000
4.8500
4.8500
4.8500
4.9500
4.9500
4.8500
4.8500
4.9000
4.9000
4.9000
4.9000
4.8500
4.8500
4.8000
4.8000
4.8000
4.7000
4.6500
4.6500
4.6500
4.5500
4.3000
4.3000
4.3000
4.4000
4.4000
4.4500
4.5000
4.5500
4.5000
4.5000
4.4000
4.3000
4.3000
4.2500
4.2500
4.2500
4.3000
4.5000
4.6500
4.6500
4.6000
4.5500
4.4000
4.4000
4.4000

4.8000
4.7500
4.7500
4.7500
4.8500
4.8500
4.7500
4.7500
4.8000
4.8000
4.8000
4.8000
4.7500
4.7500
4.7000
4.7000
4.7000
4.6000
4.5500
4.5500
4.5500
4.4500
4.2000
4.2000
4.2000
4.3000
4.3000
4.3500
4.4000
4.4500
4.4000
4.4000
4.3000
4.2000
4.2000
4.1500
4.1500
4.1500
4.2000
4.4000
4.5500
4.5500
4.5000
4.4500
4.3000
4.3000
4.3000

4.4000
4.4000
4.3500
4.3500
4.3000
4.2500
4.2500
4.2500
4.3000
4.3000
4.3000
4.3000
4.5000
4.4500
4.4500
4.4500
4.5000
4.4500
4.4000
4.4000
4.4000
4.8000
4.4500
4.4000
4.4000
4.1500
4.0500
4.0500
4.0500
4.1000
4.2500
4.1500
4.1500
4.1500
4.1500
4.2500
4.2500
4.4500
4.4500
4.4000
4.3500
4.1500
4.1000
4.1000
4.1000
4.0500
4.0000

4.3000
4.3000
4.2500
4.2500
4.2000
4.1500
4.1500
4.1500
4.2000
4.2000
4.2000
4.2000
4.4000
4.3500
4.3500
4.3500
4.4000
4.3500
4.3000
4.3000
4.3000
4.7000
4.3500
4.3000
4.3000
4.0500
3.9500
3.9500
3.9500
4.0000
4.1500
4.0500
4.0500
4.0500
4.0500
4.1500
4.1500
4.3500
4.3500
4.3000
4.2500
4.0500
4.0000
4.0000
4.0000
3.9500
3.9000

4.0000
3.9500
4.0000
4.0000
4.1500
4.1500
4.1000
4.1000
4.1500
4.1500
4.1500
4.2000
4.1500
4.1500
4.2000
4.1500
4.2500
4.2000
4.1500
4.1500
4.1000
4.1000
4.1000
4.2000
4.2000
4.1500
4.1500
4.2000
4.2000
4.2000
4.2000
4.2000
4.1500
4.1500
4.1500
4.2000
4.3000
4.3000
4.2500
4.3500
4.2500
4.1500
4.1000
4.0500
4.0500
4.0000
3.9500

3.9000
3.8500
3.9000
3.9000
4.0500
4.0500
4.0000
4.0000
4.0500
4.0500
4.0500
4.1000
4.0500
4.0500
4.1000
4.0500
4.1500
4.1000
4.0500
4.0500
4.0000
4.0000
4.0000
4.1000
4.1000
4.0500
4.0500
4.1000
4.1000
4.1000
4.1000
4.1000
4.0500
4.0500
4.0500
4.1000
4.2000
4.2000
4.1500
4.2500
4.1500
4.0500
4.0000
3.9500
3.9500
3.9000
3.8500

4.0000
4.0000
3.9500
3.8000
3.7500
3.6500
3.7500
3.7500
3.7500
3.6000
3.6000
3.5000
3.5000
3.5000
3.5000
3.7000
3.8000
3.5500
3.5500
3.7000
3.6500
3.6500
3.8500
3.8800
3.9800
4.0300
4.0000
3.9500
3.9000
4.1000
4.5000
4.0500
4.0500
4.0500
4.1000
4.2500
4.2500
4.2500
4.3500
4.5000
4.5000
4.7000
5.0000
5.1500
5.5000
5.3000
5.2000

3.9000
3.9000
3.8500
3.7000
3.6500
3.5500
3.6500
3.6500
3.6500
3.5000
3.5000
3.4000
3.4000
3.4000
3.4000
3.6000
3.7000
3.4500
3.4500
3.6000
3.5500
3.5500
3.7500
3.7800
3.8800
3.9300
3.9000
3.8500
3.8000
4.0000
4.4000
3.9500
3.9500
3.9500
4.0000
4.1500
4.1500
4.1500
4.2500
4.4000
4.4000
4.6000
4.9000
5.0500
5.4000
5.2000
5.1000

5.1500
5.0500
4.9500
4.8500
4.8000
4.7000
4.9000
4.6000
4.3500
4.2000
4.0500
4.3500
4.5000
4.4500
4.4500
4.3000
4.2500

5.0500
4.9500
4.8500
4.7500
4.7000
4.6000
4.8000
4.5000
4.2500
4.1000
3.9500
4.2500
4.4000
4.3500
4.3500
4.2000
4.1500

 Interbank Discount Rate (daily)

Interbank Discount Rate

iFinD
4.2500
4.2500
4.2500
4.2500
4.2500
4.2500
4.2500
4.2500
4.2500
4.2500
4.2000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1000
4.1500
4.1500
4.1500
4.1500
4.1800
4.1800
4.1000
4.1000
4.1000
4.1500
4.6000
4.5000
4.5500
4.5500
4.5500
4.5500
4.5500
4.5500

4.5500
4.7500
4.7500
4.7500
4.7500
4.7500
4.7500
4.7500
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.5000
4.4000
4.4000
4.4000
4.4000
4.4000
4.4000
4.4000
4.4000
4.4000
4.3000
4.3000
4.3000
4.3000
4.3000
4.3000
4.3000
4.3000
4.3000
4.3000
4.1000
4.1000
4.2000
4.2000
4.2000
4.1000
4.1000

4.1000
4.0500
4.0500
4.0500
4.0500
4.0500
4.0500
4.0500
3.9500
3.9500
3.9500
3.9500
3.9500
3.9500
3.9500
3.9500
3.8500
3.8500
3.8500
3.8500
3.8500
3.8500
3.8500
3.8500
3.8000
3.8000
3.8000
3.8000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.2000
3.2000
3.2000
3.1000
3.1000
3.1000
3.1000

3.1000
2.6000
2.6000
2.6000
2.6000
2.6000
2.6000
2.0000
2.0000
2.0000
2.0000
2.0000
1.8000
1.8000
1.8000
1.8000
1.5000
1.5000
1.5000
1.5000
1.5500
1.5500
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.5000
1.5000
1.5000
1.3000
1.3000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000

1.2000
1.2000
1.2000
1.2000
1.1500
1.1500
1.1000
1.1000
1.2000
1.2500
1.2500
1.2000
1.2000
1.3000
1.4000
1.4000
1.4000
1.3200
1.3200
1.3200
1.2500
1.3000
1.2500
1.2500
1.2000
1.2000
1.2000
1.2000
1.2000
1.1500
1.1500
1.1500
1.1500
1.1500
1.1500
1.1500
1.1900
1.1900
1.1900
1.1700
1.1700
1.1700
1.1700
1.1700
1.1700
1.1700
1.1700

1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.2000
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1800
1.1500
1.1500
1.1500
1.1500
1.1500
1.1500
1.1500
1.1800
1.1800
1.1800

1.2500
1.2500
1.3000
1.3000
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200
1.3200
1.2900
1.2900
1.2900
1.3300
1.3300
1.4500
1.4500
1.5500
1.5500
1.5500
1.8000
1.8000
1.9000
1.9000
1.9000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000

1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.7000
1.7000
1.7000
1.7000
1.7000
1.7000
1.6800
1.6800
1.6800
1.6800
1.6800
1.6800
1.6800
1.6800
1.6800
1.7000
1.7000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
2.1000
2.1000
2.1000
2.1000
1.9000
1.9000
1.9000

1.9000
1.9000
1.9000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8000
1.8500
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9000
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
1.9500
1.8500

1.8500
1.8500
1.8500
1.8500
1.8500
1.8500
1.8500
1.8500
1.9500
2.0500
2.2000
2.9000
2.9000
2.9000
2.5000
2.5000
2.5000
2.5000
2.5000
2.5000
3.0000
3.0000
3.0000
3.1000
3.1000
3.1000
3.1000
3.3000
3.0000
3.0000
3.0000
3.0000
2.9000
2.9000
2.8000
2.8000
2.6000
2.6000
2.6000
2.7000
2.7000
2.7000
2.6000
2.6000
2.6000
2.6000

2.6000
2.6000
2.6000
2.7000
3.0000
3.0000
2.9000
2.7500
2.7500
2.6500
2.6500
2.6500
2.6200
2.6200
2.6200
2.6200
2.4500
2.5500
2.5500
2.5000
2.5000
2.5000
2.5000
2.5000
2.5000
2.5000
2.6400
2.4000
2.4000
2.4000
2.3900
2.5000
2.5000
2.5000
2.5000
2.5000
2.5000
2.5000
2.4500
2.4500
2.4500
2.4500
2.4500
2.4000
2.4000
2.4000
2.4000

2.4000
2.5000
2.6000
2.6000
2.8000
2.9000
2.9000
2.9000
2.9000
3.0000
3.2000
3.2000
3.2000
3.4000
3.8000
4.0000
4.3000
4.3000
4.5000
4.5000
4.1500
4.1500
4.0000
3.7500
3.5000
3.2000
3.2000
3.2000
3.2000
2.9000
2.9000
2.9000
2.9000
2.9000
2.9000
2.8000
2.8000
2.8000
2.8000
2.8000
2.8000
2.8000
2.8000
2.8000
2.8000
2.8000
2.8000

2.8000
2.8000
2.8500
2.8500
2.8500
2.8500
2.8500
2.6500
2.6500
2.6500
2.6500
2.7500
2.8000
2.8000
2.8000
2.8500
2.9000
2.9000
2.9000
2.8500
2.8500
2.9000
2.9000
2.9000
2.9000
3.3000
3.4000
3.3000
3.1500
3.2000
3.2000
3.5000
3.5000
3.8000
3.8000
3.8000
3.6000
3.8000
3.8000
4.0000
3.5000
3.6000
3.6000
3.4500
3.3000
3.2500
3.2000

3.2000
3.2000
3.2500
3.4000
3.4000
3.5000
3.5000
3.5000
3.7500
3.7500
3.7500
3.7500
3.7500
3.7500
3.5000
3.5000
3.5000
3.4000
3.4000
3.4000
3.5500
3.5000
3.8000
3.8000
4.0000
4.0000
4.0000
4.6000
4.6000
4.6000
4.6000
4.8000
4.8000
4.8000
4.6600
4.6600
4.8000
4.9000
4.9000
5.1000
5.1000
5.5000
5.6000
5.6000
5.3000
5.1000
5.1000

4.9000
4.9000
4.8000
5.4000
6.5000
6.0000
5.5000
5.5000
5.5000
5.2500
5.0500
5.0500
4.6000
4.6000
4.4000
4.3000
4.5000
4.7000
5.0000
5.3000
5.0000
5.4000
5.4000
7.0000
7.2000
7.5000
8.0000
8.0000
6.5000
6.0000
6.0000
5.6000
5.6000
5.4000
5.3000
5.8000
6.2000
6.0500
5.7000
5.6500
5.7000
5.4000
5.4000
5.2000
5.1000
5.1000
5.1000

5.1000
5.1000
5.1000
5.2000
5.2000
5.2000
5.2000
5.2000
5.3000
5.1000
5.1000
5.1000
5.1000
5.1000
4.9000
4.9000
4.9000
4.9000
5.1000
5.0000
4.7000
4.6000
4.7000
4.7000
4.5500
4.5200
4.5500
4.5500
4.5500
4.7000
4.8000
4.8000
4.8000
4.8000
4.8000
4.6500
4.6500
4.6000
4.5500
4.5500
4.5500
4.7500
4.7500
4.7000
4.8000
4.9000

4.9000
4.9000
5.1000
5.2500
5.1000
5.0000
5.0000
5.0000
4.8500
5.1000
5.1500
5.4500
5.4500
5.5500
5.7000
6.5000
6.5000
6.5000
6.5500
7.0000
7.4000
7.3000
7.3000
7.0000
6.8000
6.5000
6.5000
6.5000
6.5000
6.5000
6.6000
6.6000
6.8000
6.8000
7.2000
7.5000
7.2000
7.2000
7.5000
7.6000
7.6000
7.3000
7.3000
7.3000
7.0000
7.0000
7.0000

7.2000
7.2000
7.4000
7.8000
7.8000
7.7000
7.8000
7.8000
8.2000
8.0000
8.0000
8.0000
8.3000
8.8000
10.0000
10.0000
11.0000
11.0000
11.0000
11.0000
11.0000
11.0000
10.0000
8.5000
8.5000
7.0000
7.0000
7.0000
6.2000
6.0000
5.8000
5.8000
6.0000
6.0000
5.8000
5.8000
6.1000
6.1000
6.1000
6.1000
6.0000
5.8000
5.8000
6.3000
6.5000
6.8000
6.7000

6.3000
6.5000
6.4000
6.4000
5.8000
5.8000
6.1000
6.1000
6.1000
6.1000
6.1000
6.1000
6.1000
5.8000
5.6000
6.0000
6.0000
6.0000
6.0000
6.3000
6.3000
6.3000
5.5000
5.6000
5.4000
5.2000
5.1000
5.1000
5.4000
5.4000
6.0000
6.1000
5.7000
5.5500
5.5500
5.2000
5.1000
5.1000
5.1000
4.8500
4.8500
4.5500
4.5000
4.6000
4.7000
4.6000
4.6000

4.6000
4.7000
4.7000
4.7000
4.7500
4.7500
4.5000
4.5000
4.6500
4.5500
4.5000
4.3500
4.3500
4.2500
4.2500
4.2000
4.2000
4.3000
4.2000
4.1500
4.1500
4.3000
4.3000
4.3000
4.3000
4.5000
4.5000
4.5000
4.5000
4.4000
4.0000
4.0000
4.0000
4.0000
4.0000
4.1000
4.1000
4.1000
4.2500
4.2500
4.1500
4.1500
4.1500
4.1500
4.1500
3.8500

3.9000
3.7500
3.7000
3.7000
3.7000
3.9000
3.9000
3.6000
3.6000
3.6000
3.4500
3.4500
3.4500
3.4500
3.3000
3.3000
3.6000
3.9000
4.1000
4.1000
4.4000
4.6000
4.0000
3.8000
3.7000
3.5500
3.6000
3.6000
3.9000
3.9000
3.9000
4.6000
4.5000
4.8000
4.7000
4.6000
4.8000
4.8000
4.7000
4.5000
4.7000
4.6000
4.8000
4.6000
4.5000
4.8000
4.7000

4.6000
4.8000
4.8000
4.0000
3.9500
3.9500
3.9500
4.0000
4.1500
4.0000
3.9000
3.9000
3.9000
4.6000
4.6000
4.5000
4.5000
4.6000
4.0000
4.0000
4.3000
4.3000
4.3000
4.2000
4.1500
4.0000
4.1000
4.0000
4.2000
4.2000
3.9000
3.9000
3.9000
4.0000
4.2000
4.2000
4.0000
4.0000
4.0000
4.0000
3.9500
4.0000
3.9000
3.9000
3.9000
3.9000

3.9000
4.0000
4.0000
4.0000
4.0000
3.9500
4.0000
4.0000
4.1000
4.1000
4.1000
4.1000
4.0000
4.0500
4.0500
4.0500
4.0500
4.1000
4.1000
4.1000
4.1000
4.2000
4.2000
4.2000
4.2000
4.3000
4.3000
4.4000
4.3500
4.3000
4.3500
4.4000
4.4000
4.3000
4.3500
4.3500
4.0000
3.9500
3.9500
3.9000
3.9000
3.8500
3.8500
3.8000
3.9000
3.9000
3.9500

3.9000
3.9000
3.9000
3.9000
3.9000
3.9000
4.0000
4.0500
3.9500
3.9500
3.9500
4.0000
4.0000
3.7500
3.7500
3.6500
3.6000
3.6000
3.6000
3.5800
3.5000
3.5000
3.5500
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000

3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.3000
3.3000
3.3000
3.3000
3.3000
3.3000
3.3000
3.3000
3.4000
3.3000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.5000
3.6500
3.8000
4.2000
4.6000
5.2000

5.0000
5.5000
5.0000
5.0000
5.2500
6.5000
9.3000
7.0000
7.5000
7.5000
7.2000
7.2000
6.8000
5.5000
5.5000
4.9000
5.1000
5.0000
4.4000
4.4000
4.4000
4.4000
4.5000
4.5000
4.5000
4.5000
4.7000
4.7000
5.0000
5.2000
5.3000
5.3000
5.0000
4.8000
5.0000
5.0000
5.0000
5.0000
4.7000
4.7000
4.7000
4.7000
4.6500
4.6000
4.7000
4.9000
4.9000

5.0000
5.2500
5.3500
5.4500
5.4500
5.3000
5.2500
5.2500
5.2500
5.4000
5.0000
5.0000
5.1500
5.1500
5.1500
5.2000
5.2000
5.2000
5.2000
5.2000
5.2000
5.2500
5.2500
5.3000
5.3500
5.3500
5.3500
5.3500
5.3500
5.4500
5.4500
5.4000
5.4000
5.4000
5.3000
5.2000
4.9000
4.8000
4.8000
4.8000
4.7500
4.7500
4.7500
4.8000
5.0000
5.0500
5.0500

5.0500
5.0500
5.0000
4.9500
4.9000
4.9000
4.9000
4.9000
4.9000
4.9000
5.0000
5.0000
5.1000
5.1000
5.1500
5.2500
5.2500
5.3500
5.4500
5.8000
5.8000
5.8000
5.8000
5.8000
5.7500
5.7500
5.7000
5.7500
5.7500
5.8000
5.8500
6.0000
5.9500
5.9500
5.8500
5.9000
6.0000
7.2000
7.0000
6.8000
6.8000
6.4000
6.1000
5.9000
5.9000
5.9000
5.9000

5.8000
5.8000
5.8000
5.8000
5.8000
5.8000
5.8000
5.8000
5.8000
5.8000
5.8000
5.8000
5.9000
5.9000
5.9500
5.9500
5.9500
5.9500
5.9500
6.3000
5.8000
5.6000
5.6000
5.5500
5.5000
5.4000
5.3500
5.2000
5.2000
5.2500
5.1500
5.1500
5.1500
5.2000
5.2000
5.1500
5.0500
4.9500
4.8500
4.7500
4.7500
4.6500
4.6500
4.6500
4.6500
4.6000
4.6000

4.6000
4.5500
4.5500
4.5500
4.6500
4.6500
4.5500
4.5500
4.6000
4.6000
4.6000
4.6000
4.5500
4.5500
4.5000
4.5000
4.5000
4.4000
4.3500
4.3500
4.3500
4.2500
4.0000
4.0000
4.0000
4.0500
4.0500
4.1000
4.2500
4.3000
4.2500
4.2500
4.1500
4.0500
4.0500
4.0000
4.0000
4.0000
4.0500
4.2000
4.3500
4.3500
4.3000
4.2500
4.1000
4.1000
4.1000

4.1000
4.1000
4.0500
4.0500
4.0000
3.9500
3.9500
3.9500
4.0000
4.0000
4.0000
4.0000
4.2000
4.1500
4.1500
4.3000
4.3500
4.3000
4.2500
4.2500
4.2500
4.5500
4.2500
4.2000
4.2000
3.9500
3.8500
3.8500
3.8500
3.9000
4.0500
3.9500
3.9500
3.9500
3.9500
4.0500
4.0500
4.2500
4.2500
4.2000
4.1500
3.9500
3.9000
3.9000
3.9000
3.8500
3.8000

3.8000
3.7500
3.8000
3.8000
4.0000
4.0000
3.9500
3.9500
4.0000
4.0000
4.0000
4.0500
4.0000
4.0000
4.0500
4.0000
4.1000
4.0500
4.0000
4.0000
3.9500
3.9500
3.9500
4.0500
4.0500
4.0000
4.0000
4.0500
4.0500
4.0500
4.0500
4.0500
4.0000
4.0000
4.0000
4.0500
4.1500
4.1500
4.1000
4.2000
4.1000
4.0000
3.9500
3.9000
3.9000
3.8500
3.8000

3.8500
3.8500
3.8000
3.6500
3.6000
3.5000
3.6000
3.6000
3.6000
3.4500
3.4500
3.3500
3.3500
3.3500
3.3500
3.5500
3.6500
3.4000
3.4000
3.5500
3.5000
3.5000
3.7000
3.7300
3.8300
3.8800
3.8500
3.8000
3.7500
3.9500
4.3500
3.9000
3.9000
3.9000
3.9500
4.1000
4.1000
4.1000
4.2000
4.3500
4.3500
4.5500
4.8500
5.0000
5.3500
5.1500
5.0500

5.0000
4.9000
4.8000
4.7000
4.6500
4.5500
4.7500
4.4500
4.2000
4.0500
3.9000
4.2000
4.3500
4.3000
4.3000
4.1500
4.1000

Electricity Consumption
Date

Total

2011-04
2011-05
2011-06
2011-07
2011-08
2011-09
2011-10
2011-11
2011-12
2012-01
2012-02
2012-03
2012-04
2012-05
2012-06
2012-07
2012-08
2012-09
2012-10
2012-11
2012-12
2013-01
2013-02
2013-03
2013-04
2013-05
2013-06
2013-07
2013-08
2013-09
2013-10
2013-11
2013-12
2014-01
2014-02
2014-03
2014-04
2014-05
2014-06
2014-07
2014-08
2014-09
2014-10
2014-11

Frontpage

3,333.05
3,465.15
3,555.96
3,784.64
3,364.71
3,343.68
3,252.02
3,594.63
3,404.57
3,622.59
3,705.86
4,034.37
3,870.55
3,453.78
3,524.62
3,679.65
2,805.36
3,675.48
3,675.94
3,913.39
4,364.91
4,346.42
3,728.75
3,840.01
3,997.70
3,216.54
3,828.54
4,002.77
4,127.71
4,506.30
4,309.41
3,929.82
3,967.15

Industrial
Sector
2,822.00
2,962.00
3,001.00
3,240.00
3,106.00
2,747.00
2,816.00
2,890.00
3,087.00
2,554.00
2,672.00
3,022.00
2,858.00
3,078.00
3,101.00
3,344.00
3,137.00
2,783.00
2,957.00
3,101.00
3,419.00
3,205.00
2,213.00
3,117.00
3,083.00
3,223.00
3,263.00
3,609.00
3,509.00
3,003.00
3,221.00
3,377.00
3,685.00
3,104.00
2,603.00
3,260.00
3,205.00
3,387.00
3,423.00
3,707.00
3,451.00
3,160.00
3,312.00
3,469.00

Black
Metal Smelting & Rolling
445.36
454.48
466.43
463.44
447.35
441.19
402.69
433.25
426.64
441.14
461.23
453.18
424.94
396.93
403.45
427.45
397.08
427.24
446.56
458.29
463.61
473.14
455.79
470.68
479.45
407.05
452.70
459.45
477.85
490.24
479.58
457.42
458.43

 / Unit: 00,000 mwh

:
of
which: Ferroalloy
96.54
88.32
105.64
100.74
100.67
99.52
88.63
95.89
91.28
102.42
106.00
106.24
99.01
87.16
91.12
96.98
98.67
93.53
101.89
114.52
106.18
108.05
107.85
119.10
117.16
101.70
99.73
101.02
107.14
108.11
107.61
104.23
106.54

Nonferrous
Metal Smelting & Rolling
284.66
297.89
303.35
300.67
298.27
292.87
296.52
287.26
309.21
319.71
326.32
334.85
318.66
315.67
329.15
329.35
299.14
318.31
318.60
331.54
343.30
335.61
326.25
331.04
339.82
320.58
343.02
338.36
358.30
359.60
360.22
333.92
345.80

of
which: Aluminium
187.33
198.57
203.88
###
196.30
199.48
193.81
###
###
###
210.17
190.19
212.95
216.87
221.00
228.78
216.49
222.51
227.69
224.29
###
###
198.91
243.19
215.48
###
232.00
241.13
238.71
228.81
229.62
232.19
###
###
219.28
###
231.93
222.79
234.39
230.88
233.65
214.01
228.73

Capesize

Charter Type
/ Country / Region
Load Port

TCT
Australia

/
Australia - North
China round trip

Disport

Voyage Charter
West Australia

Dampier

Qingdao

Brazil

S.Africa

Australia

Tubarao

Saldanha Bay

Richards Bay

Newcastle

Qingdao

Qingdao

Zhoushan

Zhoushan

Iron Ore

/ (mt)

Coal

176000

160000/10%

160000/10%

160000/10%

150000/10%

130000/10%

/ $/day

/ $/mt

/ $/mt

/ $/mt

/ $/mt

/ $/mt

1/15/2015

4080

4.211

10.429

7.21

6.46

6.59

1/22/2015
1/29/2015
2/5/2015
2/12/2015

4808
4175
4017
4336

4.45
4.179
4.313
4.509

11.736
10.725
10.314
10.611

8.23
7.475
7.35
7.48

6.983
6.542
6.33
6.458

6.811
6.293
6.138
6.263

Unit

 Panamax
TCT

Handymax

Voyage Charter

Australia

Indonesia

Hay

Point
Samarinda
South
China - East
Zhoushan Guangzhou
Australia - China
Coal

TCT

Brazil

Santos

Northern China

US

Tacoma

Voyage Charter

Indonesia

Gulf Coast

Northern China Northern China

/
South China Indonesia, Round
Trip

Grain

Taboneo
Guangzhou
Coal

76000

70000/10%

65000/10%

60000/10%

60000/10%

55000/10%

57000

50000/10%

/ $/day

/ $/mt

/ $/mt

/ $/mt

/ $/mt

/ $/mt

/ $/day

/ $/mt

5316

10.085

4.558

24.242

18.152

33.977

5723

7.004

5123
4183
3236
3249

9.906
8.826
8.159
8.044

4.433
3.973
3.581
3.481

23.613
21.755
20.346
20.583

17.664
16.76
15.823
15.732

33.336
30.415
27.018
26.891

5413
4750
3904
3412

6.379
5.886
5.361
5.061

Handymax
Voyage Charter
Philippines
Surigao
Rizhao
NickelOre
50000/10%
/ $/mt
8.344
8.039
7.6
6.933
6.25

 China Steel Industry Purchase Manager Index

Date

Steel PMI

Production

New Sales Order

New Export
Order

Purchase

Date

PMI

1/31/2013

49.3

49.1

49.4

48.5

51.8

2/28/2013

58.9

65.2

63.2

63.5

57.5

3/31/2013

44.6

45.7

41.3

42.4

41.5

4/30/2013

45.1

44.9

43.2

41

44.7

5/31/2013

46.8

49

45.2

46.3

47.2

7/31/2013

52.5

52.6

57.3

52.7

45.6

8/31/2013

53.4

51.9

57.9

52.7

53.1

9/30/2013

49.2

53

49.2

44.9

55.9

10/31/2013

47.5

48.5

46.8

49.2

52.7

11/30/2013

49

49.4

48.5

56

49.1

12/31/2013

47.7

47.1

45.6

50.5

49.2

1/31/2014

40.7

35.3

33.5

45.2

40.9

2/28/2014

39.9

35.2

32.4

52.3

42.3

3/31/2014

44.2

39.7

46.1

48.6

40.4

4/30/2014

52.6

53

57.8

52.1

49.1

5/31/2014

46.4

45.4

45.8

51.6

44.6

6/30/2014

48.3

48.9

50.7

55.7

47.8

7/31/2014

48.6

50.7

49.1

48.2

52.3

8/31/2014

48.4

54.3

44.6

53.2

54.6

9/30/2014

43.6

45.9

38

51.7

41.6

10/31/2014

46

42.2

47.4

54.9

52

11/30/2014
12/31/2014

ger Index
Product
Inventory

Raw Material
Inventory

45.9

49.2

54

51.2

58.9

40.9

49

39.8

49.4

44.5

33.6

44

37.8

53.8

52.6

43.1

49.5

48.5

47.5

49.4

47.5

54.7

52.4

49.6

63.3

47

53.2

40.8

54

46

58.6

43.2

56.4

41.3

55.1

42.9

56.7

45.4

60.9

38.8

53.1

43.7


China Industrial Electricity Prices by Province
201433 Mysteel, CNFEOL
RMB/kWh

Week ending
10/26/2012
11/2/2012
12/21/2012
1/8/2013
2/8/2013
3/8/2013
4/8/2013
5/8/2013
6/8/2013
7/5/2013
8/8/2013
9/8/2013
10/8/2013
11/8/2013
12/20/2013
1/23/2014
2/7/2014
3/3/2014
4/30/2014
6/20/2014
7/25/2014
8/25/2014
9/25/2014
10/31/2014
11/30/2014
12/31/2014

Gansu Qinghai Ningxia Shaanxi

0.42
0.41
0.43
0.45
0.42
0.41
0.43
0.45
0.42
0.41
0.43
0.45
0.42
0.41
0.43
0.45
0.42
0.41
0.43
0.45
0.42
0.41
0.43
0.45
0.42
0.41
0.43
0.45
0.42
0.37
0.42
0.43
0.42
0.37
0.42
0.43
0.42
0.37
0.42
0.43
0.42
0.37
0.42
0.43
0.42
0.37
0.42
0.43
0.42
0.37
0.43
0.43
0.44
0.37
0.43
0.43
0.42
0.39
0.42
0.43
0.42
0.39
0.42
0.43
0.42
0.39
0.42
0.43
0.42
0.39
0.45
0.43
0.42 to 0.45
0.45
0.42 to 0.45
0.45
0.42 to 0.45
0.45
0.42 to 0.45
0.45
0.42 to 0.45
0.45

Inner Mongolia
Shanxi
0.42
0.48
0.42
0.48
0.42
0.48
0.42
0.48
0.42
0.48
0.42
0.48
0.42
0.48
0.38
0.46
0.38
0.46
0.38
0.46
0.40
0.50
0.40
0.50
0.42
0.56
0.42
0.56
0.42
0.48
0.42
0.48
0.42
0.48
0.42
0.56
0.42
0.56
0.42
0.56
0.42
0.56
0.42
0.56
0.42
0.56


Guizhou Sichuan Yunnan Guangxi Hunan Xinjiang
0.45
0.43
0.40
0.49
0.52
0.52
0.43
0.40
0.61
0.56
0.52
0.43
0.40
0.61
0.56
0.52
0.43
0.40
0.61
0.56
0.52
0.43
0.40
0.61
0.56
0.52
0.43
0.40
0.61
0.56
0.52
0.43
0.40
0.61
0.56
0.56
0.52
0.48
0.61
0.56
0.56
0.52
0.48
0.61
0.56
0.56
0.52
0.48
0.52
0.56
0.55
0.52
0.42
0.52
0.52
0.55
0.52
0.42
0.52
0.52
0.56
0.52
0.42
0.52
0.56
0.55
0.52
0.52
0.61
0.56
0.56
0.52
0.56
0.64
0.56
0.56
0.52
0.56
0.64
0.56
0.56
0.52
0.56
0.64
0.56
0.55
0.52
0.65
0.61
0.56
0.55
moving fro
0.61
0.56
0.369
0.55
0.42
0.61
0.56
0.369
0.55
0.42
0.52
0.56
0.369
0.55
0.42
0.52
0.56
0.55
0.42
0.52
0.56

Henan