Monthly HRC and Steel Plate Market Report May 2021
2021-06-03 14:29:53 【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
Generally speaking, the domestic HRC and steel plate market performed worse this month than that in April. Prices increased by around RMB1,000/t (USD157/t) in the first half of the month boosted by the price soar in the futures market as well as the significant price rise of raw materials, but they dropped by about RMB1,200/t (USD188/t) in the second half of the month dragged by the negative national policy. The demand from downstream industries remained relatively strong during the month, but end users just purchased according to orders for final products facing the frequent and sharp price change. Meanwhile, traders were cautious about supplementing inventories seeing the high purchasing prices from steel mills and the fluctuations in the market. Discouraged by the price drop in the second half of the month, steel mills' production activities weakened.
Meanwhile, prices of HRC and steel plate increased in most other Asian markets during the month. Besides, the demand from downstream industries kept sufficient.
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Generally speaking, the domestic HRC and steel plate market performed worse this month than that in April. Prices increased by around RMB1,000/t (USD157/t) in the first half of the month boosted by the price soar in the futures market as well as the significant price rise of raw materials, but they dropped by about RMB1,200/t (USD188/t) in the second half of the month dragged by the negative national policy. The demand from downstream industries remained relatively strong during the month, but end users just purchased according to orders for final products facing the frequent and sharp price change. Meanwhile, traders were cautious about supplementing inventories seeing the high purchasing prices from steel mills and the fluctuations in the market. Discouraged by the price drop in the second half of the month, steel mills' production activities weakened.
Meanwhile, prices of HRC and steel plate increased in most other Asian markets during the month. Besides, the demand from downstream industries kept sufficient.
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