Monthly HRC & Steel Plate Market Report Feb 2021
2021-03-04 14:19:43 【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
Prices of HRC and steel plate went through the stable-up trend in major Chinese domestic markets during the month. They kept generally stable before the Spring Festival (February 12), but soared by around RMB400/t (USD62/t) right after the Spring Festival holiday. The sales performance remained unsatisfactory before the Spring Festival as most participants retreated from the market for the holiday early this month, and it boomed in the first week after the holiday following the price soar. Both producers and traders are eager to lift prices seeing the increased prices of iron ore and steel billet, while end users remained inactive in purchasing, complaining prices of final products failed to go up as sharply as those of raw materials. As most traders remained cautious about supplementing inventories before the holiday, the overall market inventory did not increase obviously after the holiday, which stimulated traders to lift prices to some degree. Besides, the positive control of COVID-19 during the holiday strengthened market participants' confidence to a large extent.
In the meantime, prices of HRC and steel plate failed to keep rising in other Asian markets during the month dragged by the falling back in China during January. Meanwhile, the demand from downstream industries remained relatively strong.
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Prices of HRC and steel plate went through the stable-up trend in major Chinese domestic markets during the month. They kept generally stable before the Spring Festival (February 12), but soared by around RMB400/t (USD62/t) right after the Spring Festival holiday. The sales performance remained unsatisfactory before the Spring Festival as most participants retreated from the market for the holiday early this month, and it boomed in the first week after the holiday following the price soar. Both producers and traders are eager to lift prices seeing the increased prices of iron ore and steel billet, while end users remained inactive in purchasing, complaining prices of final products failed to go up as sharply as those of raw materials. As most traders remained cautious about supplementing inventories before the holiday, the overall market inventory did not increase obviously after the holiday, which stimulated traders to lift prices to some degree. Besides, the positive control of COVID-19 during the holiday strengthened market participants' confidence to a large extent.
In the meantime, prices of HRC and steel plate failed to keep rising in other Asian markets during the month dragged by the falling back in China during January. Meanwhile, the demand from downstream industries remained relatively strong.
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