Monthly HRC & Steel Plate Market Report Oct 2020
2020-11-05 12:59:33 【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
The domestic HRC and steel plate market in October performed better than that in September, and prices went through an up-down trend. Continuous prices increase of raw materials as well as reduced stocks of finished steel strengthened market participants' confidence to some extent. Meanwhile, most steel mills produced actively boosted by the considerable profits. Major producers such as Baowu Group, HBIS, Ansteel, Bengang Steel and Shougang Steel either cut HRC EXW prices for November production or kept them stable, reporting increased sales pressures. Supported by low stockpiles, traders were eager to raise prices, despite the unsatisfactory sales performance. In the meantime, the demand from downstream industries remained relatively strong, but end users were cautious about placing orders and just purchased from hand to mouth.
In the meantime, prices for HRC and steel plate witnessed narrow changes in other Asian markets as participants adopted wait-and-see attitudes seeing the frequent prices changes in China, the bellwether of world steel.
The domestic HRC and steel plate market in October performed better than that in September, and prices went through an up-down trend. Continuous prices increase of raw materials as well as reduced stocks of finished steel strengthened market participants' confidence to some extent. Meanwhile, most steel mills produced actively boosted by the considerable profits. Major producers such as Baowu Group, HBIS, Ansteel, Bengang Steel and Shougang Steel either cut HRC EXW prices for November production or kept them stable, reporting increased sales pressures. Supported by low stockpiles, traders were eager to raise prices, despite the unsatisfactory sales performance. In the meantime, the demand from downstream industries remained relatively strong, but end users were cautious about placing orders and just purchased from hand to mouth.
In the meantime, prices for HRC and steel plate witnessed narrow changes in other Asian markets as participants adopted wait-and-see attitudes seeing the frequent prices changes in China, the bellwether of world steel.
