Monthly HRC & Steel Plate Market Report Apr 2021
2021-05-10 08:28:20 【Print】
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1. Market Highlights
Prices of HRC and steel plate continued the upward trend in major Chinese domestic markets during the month. The significant price rise of raw materials such as iron ore and steel billet stimulated steel mills to lift EXW prices of finished steel.Therein, major producers such as China Baowu Group, Shougang Steel, HBIS, Ansteel and Bengang Steel announced the decision to raise HRC EXW prices for May production by about RMB400/t (USD62/t) during the month. Though end users remained cautious about placing orders seeing the continuous price increase, the downstream demand kept strong, and the overall market performance remained satisfactory. As traders remained inactive in supplementing inventories seeing the higher EXW prices, the market inventory remained low, which boosted the prices to go up further.
In the meantime, prices of HRC and steel plate also showed the upward trend in other Asian markets during the month boosted by the dramatic price hike in China. Besides, the overall market stockpile remained low and the downstream demand kept improving.
.
Prices of HRC and steel plate continued the upward trend in major Chinese domestic markets during the month. The significant price rise of raw materials such as iron ore and steel billet stimulated steel mills to lift EXW prices of finished steel.Therein, major producers such as China Baowu Group, Shougang Steel, HBIS, Ansteel and Bengang Steel announced the decision to raise HRC EXW prices for May production by about RMB400/t (USD62/t) during the month. Though end users remained cautious about placing orders seeing the continuous price increase, the downstream demand kept strong, and the overall market performance remained satisfactory. As traders remained inactive in supplementing inventories seeing the higher EXW prices, the market inventory remained low, which boosted the prices to go up further.
In the meantime, prices of HRC and steel plate also showed the upward trend in other Asian markets during the month boosted by the dramatic price hike in China. Besides, the overall market stockpile remained low and the downstream demand kept improving.
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