Monthly CRC and HGI Coil Market Report Oct 2021
2021-11-11 08:30:24 【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
Due to the weak demand from downstream industries and softening support from raw materials' prices, CRC and HGI coil prices in Chinese mainstream markets went down by RMB300-400/t (USD47-63/t) this month. Most traders began to lose confidence in the coming market and hurried up in promoting sales. However, market performance failed to see improvement as downstream customers kept watching the market when prices continued on the downward trend. Due to sharp price decline in domestic market, Chinese steel mills became inactive in export and cut export prices obviously this month, while overseas customers watched the market when prices did not get rid of the downward trend yet.
In the international market, CRC and HGI coil prices India moved up on higher raw materials' prices and the expectation of demand recovery. However, those in Vietnam and Malaysia went down due to soft demand and falling prices of imported HRC.
Due to the weak demand from downstream industries and softening support from raw materials' prices, CRC and HGI coil prices in Chinese mainstream markets went down by RMB300-400/t (USD47-63/t) this month. Most traders began to lose confidence in the coming market and hurried up in promoting sales. However, market performance failed to see improvement as downstream customers kept watching the market when prices continued on the downward trend. Due to sharp price decline in domestic market, Chinese steel mills became inactive in export and cut export prices obviously this month, while overseas customers watched the market when prices did not get rid of the downward trend yet.
In the international market, CRC and HGI coil prices India moved up on higher raw materials' prices and the expectation of demand recovery. However, those in Vietnam and Malaysia went down due to soft demand and falling prices of imported HRC.
