Monthly HRC & Steel Plate Market Report Sep 2020
2020-10-12 09:07:47 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
Generally speaking, the domestic HRC and steel plate market in September performed worse than that of August following the obvious price decline. The sudden and sharp price drop in the steel futures market weakened the confidence of spot market participants to a large extent. Besides, prices for raw materials such as iron ore and steel billet failed to keep rising and fell back obviously during the month, heightening finished steel market participants' wait-and-see attitudes. Mills' production activities weakened dragged by the downward price trend. Complaining the higher purchasing costs but decreasing selling prices, traders were cautious about supplementing inventories, and end users just purchased from hand to mouth. Nevertheless, major producers lifted EXW prices for October production in succession.
In the meantime, prices for HRC and steel plate went up in most other Asian markets during the month as traders were eager to lift prices boosted by higher purchasing costs. Besides, the market performance kept improving.
Generally speaking, the domestic HRC and steel plate market in September performed worse than that of August following the obvious price decline. The sudden and sharp price drop in the steel futures market weakened the confidence of spot market participants to a large extent. Besides, prices for raw materials such as iron ore and steel billet failed to keep rising and fell back obviously during the month, heightening finished steel market participants' wait-and-see attitudes. Mills' production activities weakened dragged by the downward price trend. Complaining the higher purchasing costs but decreasing selling prices, traders were cautious about supplementing inventories, and end users just purchased from hand to mouth. Nevertheless, major producers lifted EXW prices for October production in succession.
In the meantime, prices for HRC and steel plate went up in most other Asian markets during the month as traders were eager to lift prices boosted by higher purchasing costs. Besides, the market performance kept improving.
