Monthly HRC and Steel Plate Market Report Aug 2021

1. Market Highlights

Prices of HRC and steel plate went down by around 5% in major Chinese domestic markets during the month. Price decline of raw materials such as iron ore and steel billet weakened market participants' confidence to some extent.Asian Metal Copyright Supported by the potential reduced supply under the national production cut policy, both steel mills and traders were eager to raise prices, despite the slow market.Asian Metal Copyright Besides, the demand from downstream industries remained insufficient.Asian Metal Copyright Meanwhile, the market inventory kept decreasing.Asian Metal Copyright Dragged by the frequent price fluctuation, end users remained cautious about placing orders and refused to build stocks.Asian Metal Copyright Supported by the potential reduced supply under the national production cut policy, both steel mills and traders were eager to raise prices, despite the slow market.Asian Metal Copyright Supported by the potential reduced supply under the national production cut policy, both steel mills and traders were eager to raise prices, despite the slow market. Major producers such as Baosteel, Ansteel, Bengang Steel, HBIS and Shougang Steel maintained the HRC EXW prices for September production flat, but they reduced the discounts by RMB200-300/t (USD31-46/t).Asian Metal Copyright Meanwhile, the market inventory kept decreasing.Asian Metal Copyright Meanwhile, the market inventory kept decreasing.

Meanwhile, prices of HRC and steel plate ran on different trends in other Asian markets during the month. Supported by the low inventories, traders were eager to lift prices supported by the low inventories, but the market performance failed to improve dragged by the weak demand.

.Asian Metal Copyright Dragged by the frequent price fluctuation, end users remained cautious about placing orders and refused to build stocksAsian Metal Copyright