Monthly HRC & Steel Plate Market Report Jan 2021
2021-02-02 08:26:24 【Print】
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1. Market Highlights
Prices of HRC and steel plate failed to keep rising and fluctuated frequently during the month, but the price change remained narrow. Producers were eager to raise prices boosted by the rising prices of raw materials. Therein, major producers such as Baowu Group, Bengang Steel, Ansteel and Bengang Steel lifted HRC EXW prices by around RMB100-300/t (USD15-45/t) for February production. Traders remained cautious about supplementing inventories seeing the higher prices from steel mills as well as the poor sales performance. End users tended to purchase according to orders for final products and had no intention to build stocks, with wait-and-see attitudes. Meanwhile, steel mills had to cut export prices dragged by the price decrease in the domestic market, and overseas buyers held back from placing orders.
In the meantime, prices of HRC and steel plate continued the upward trend in other Asian markets in the first half of the month, but they failed to go up further in the second half of the month since the frequent price fluctuation in China weakened market participants' confidence to a large extent.
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Prices of HRC and steel plate failed to keep rising and fluctuated frequently during the month, but the price change remained narrow. Producers were eager to raise prices boosted by the rising prices of raw materials. Therein, major producers such as Baowu Group, Bengang Steel, Ansteel and Bengang Steel lifted HRC EXW prices by around RMB100-300/t (USD15-45/t) for February production. Traders remained cautious about supplementing inventories seeing the higher prices from steel mills as well as the poor sales performance. End users tended to purchase according to orders for final products and had no intention to build stocks, with wait-and-see attitudes. Meanwhile, steel mills had to cut export prices dragged by the price decrease in the domestic market, and overseas buyers held back from placing orders.
In the meantime, prices of HRC and steel plate continued the upward trend in other Asian markets in the first half of the month, but they failed to go up further in the second half of the month since the frequent price fluctuation in China weakened market participants' confidence to a large extent.
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