HRC Market Report March 2016

HRC prices soared in major Chinese domestic markets, boosted by low overall stockpiles as well as significant price increases for raw materials.Asian Metal Copyright9t.Asian Metal Copyright And the market was showing signs of warming up, since end users had begun to purchase with a view to building some stocks, for fear of another price increase.Asian Metal CopyrightHRC prices soared in major Chinese domestic markets, boosted by low overall stockpiles as well as significant price increases for raw materials.Asian Metal Copyright It is said that mills in Tangshan, Hebei province, the steel distribution center in China, are being forced to reduce output by at least 30% this year, and the supply was tight during the month, prompting HRC traders to lift prices. In the meantime, major producers, including Baosteel, Ansteel, Benxi Steel and WISCO, lifted their HRC list prices for April production by at least RMB200/t (USD30.9/t).Asian Metal Copyright9t.Asian Metal Copyright As a consequence, insiders do not think the HRC market price will go down in April.
.Asian Metal Copyright In the meantime, major producers, including Baosteel, Ansteel, Benxi Steel and WISCO, lifted their HRC list prices for April production by at least RMB200t USD30Asian Metal Copyright