Monthly HRC and Steel Plate Market Report Jul 2021
2021-08-06 08:53:42 【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
Major producers received the formal notification from the government for the production cut in the remainder of this year, endeavoring to control the output of 2021 below that of 2020. Some mills began to slow down production from the middle of this month, while others planned to start the production cut in September. Boosted by the production cut expectation, both steel mills and traders remained active in lifting prices. Prices of HRC and steel plate rose by around RMB500/t (USD77/t) during the month. Though end users kept cautious about purchasing, the purchasing activities improved, and the market performance showed signs of getting better late this month. Meanwhile, leading producers such as Baowu Group, Ansteel, Bengang Steel, Shougang Steel and HBIS all maintained HRC EXW prices for August production flat. On July 29, the government announced to cancel the export rebate on CRC and GI, but did not mention the export duty for HRC as expected, heightening market participants' wait-and-see attitudes.
In the meantime, prices of HRC and steel plate ran on different trends in other Asian markets during the month. Boosted by the rising prices in China, traders in other Asian countries lifted prices tentatively, but the slow market dragged by the sluggish demand restrained prices from rising.
Major producers received the formal notification from the government for the production cut in the remainder of this year, endeavoring to control the output of 2021 below that of 2020. Some mills began to slow down production from the middle of this month, while others planned to start the production cut in September. Boosted by the production cut expectation, both steel mills and traders remained active in lifting prices. Prices of HRC and steel plate rose by around RMB500/t (USD77/t) during the month. Though end users kept cautious about purchasing, the purchasing activities improved, and the market performance showed signs of getting better late this month. Meanwhile, leading producers such as Baowu Group, Ansteel, Bengang Steel, Shougang Steel and HBIS all maintained HRC EXW prices for August production flat. On July 29, the government announced to cancel the export rebate on CRC and GI, but did not mention the export duty for HRC as expected, heightening market participants' wait-and-see attitudes.
In the meantime, prices of HRC and steel plate ran on different trends in other Asian markets during the month. Boosted by the rising prices in China, traders in other Asian countries lifted prices tentatively, but the slow market dragged by the sluggish demand restrained prices from rising.
