Monthly CRC and HGI Coil Market Report Jan 2021
2021-02-03 08:29:12 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
1. Market Highlights
In January, CRC and HGI coil prices in Chinese leading markets recorded a downward trend and saw an average decline of RMB300-400/t (USD46-62/t) after they reached the peak in the previous month. Prices of raw materials kept moving up this month, so steel mills tried to hike EXW prices further for February production . However, traders showed little confidence in the coming market and became inactive in replenishing stocks . As the Chinese New Year holiday approached, downstream customers just purchased materials according to urgent needs . In late January, Chinese domestic market cooled down with more and more market participants leaving the market for the holiday and steel mills cut export prices gradually due to increasing sales pressure from domestic market.
In the international market, CRC and HGI coil prices in many Asian countries including Malaysia, Vietnam and India went up in the first half of this month, supported by the firm production cost. However, as the market performance weakened gradually, prices fell in the second half of this month.
In January, CRC and HGI coil prices in Chinese leading markets recorded a downward trend and saw an average decline of RMB300-400/t (USD46-62/t) after they reached the peak in the previous month. Prices of raw materials kept moving up this month, so steel mills tried to hike EXW prices further for February production . However, traders showed little confidence in the coming market and became inactive in replenishing stocks . As the Chinese New Year holiday approached, downstream customers just purchased materials according to urgent needs . In late January, Chinese domestic market cooled down with more and more market participants leaving the market for the holiday and steel mills cut export prices gradually due to increasing sales pressure from domestic market.
In the international market, CRC and HGI coil prices in many Asian countries including Malaysia, Vietnam and India went up in the first half of this month, supported by the firm production cost. However, as the market performance weakened gradually, prices fell in the second half of this month.