Chinese HRC prices upward
2016-04-12 09:04:05 [Print]
BEIJING (Asian Metal) 12 Apr 16 - HRC prices kept rising in China on Monday, because of upward price trend of raw material as well as overall low stockpile. Taking Q235B 5.5mm*1,500mm*C as an example, in Shanghai, Guangzhou and Hangzhou, prices are RMB2,620/t (USD405/t), RMB2,700/t (USD397/t) and RMB2,800/t (USD386/t) VAT included respectively, up by RMB50/t (USD7.7/t) over last Friday. Insiders foresee another price increase in following two or three days.
A trader in Shanghai claimed that his price for Q235B 5.5mm*1,500mm*C from Ansteel is RMB2,620/t (USD405/t), up by RMB50/t (USD7.7/t) compared with last Friday.
According to the source, it is the sharp price increase of steel billet, the raw material for HRC, that boosted the current price rise. Therein, the price of steel billet soared by RMB140/t (USD21.7/t) from last Saturday to this Monday due to tight supply, after a total markup of RMB80/t (USD12.4/t) from last Monday to Friday. With the current sales volume of 200tpd, the source claimed that the market performance is getting better after the continuous price rise, and he only sold 2,000t totally in March. Holding a low stock of 2,000t, half of that in past years, he deems the HRC price is likely to go up further in the near future.
A trader in Guangzhou quoted RMB2,700/t (USD397/t) for Q235B 5.5mm*1,500mm*C from Benxi Steel, rising by RMB50/t (USD7.7/t) over last trading day.
The source revealed that the HRC price has increased by RMB130/t (USD20.1/t) in recent one week because of overall low inventory. Holding a stock of 4,000t at the moment against 5,000t during the corresponding period of last year, the source stated that local traders refuse to build large stockpiles and just supplement inventories according to grade shortage, for fear of potential risks. After all, the rigid demand is not strong enough. With the current sales volume of 400tpd, the source sold 9,000t in March.
A trader in Hangzhou, Zhejiang province reported that his price for Q235B 5.5mm*1,500mm*C from Shagang Steel is RMB2,800/t (USD386/t), up by RMB50/t (USD7.7/t) compared with last Friday.
Holding a low stock of 2,000t for the time being against 10,000t of last year, the source confirmed that it is the low stockpile that boosted the continuous price increase. With the sales volume of 100tpd against 70-80tpd late March, he reported a warm-up market after the price increase. Noted by him, though the rigid demand is insufficient, end users prefer to build some stocks, for fear of another price increase. He sold 2,000t in March.
A trader in Shanghai claimed that his price for Q235B 5.5mm*1,500mm*C from Ansteel is RMB2,620/t (USD405/t), up by RMB50/t (USD7.7/t) compared with last Friday.
According to the source, it is the sharp price increase of steel billet, the raw material for HRC, that boosted the current price rise. Therein, the price of steel billet soared by RMB140/t (USD21.7/t) from last Saturday to this Monday due to tight supply, after a total markup of RMB80/t (USD12.4/t) from last Monday to Friday. With the current sales volume of 200tpd, the source claimed that the market performance is getting better after the continuous price rise, and he only sold 2,000t totally in March. Holding a low stock of 2,000t, half of that in past years, he deems the HRC price is likely to go up further in the near future.
A trader in Guangzhou quoted RMB2,700/t (USD397/t) for Q235B 5.5mm*1,500mm*C from Benxi Steel, rising by RMB50/t (USD7.7/t) over last trading day.
The source revealed that the HRC price has increased by RMB130/t (USD20.1/t) in recent one week because of overall low inventory. Holding a stock of 4,000t at the moment against 5,000t during the corresponding period of last year, the source stated that local traders refuse to build large stockpiles and just supplement inventories according to grade shortage, for fear of potential risks. After all, the rigid demand is not strong enough. With the current sales volume of 400tpd, the source sold 9,000t in March.
A trader in Hangzhou, Zhejiang province reported that his price for Q235B 5.5mm*1,500mm*C from Shagang Steel is RMB2,800/t (USD386/t), up by RMB50/t (USD7.7/t) compared with last Friday.
Holding a low stock of 2,000t for the time being against 10,000t of last year, the source confirmed that it is the low stockpile that boosted the continuous price increase. With the sales volume of 100tpd against 70-80tpd late March, he reported a warm-up market after the price increase. Noted by him, though the rigid demand is insufficient, end users prefer to build some stocks, for fear of another price increase. He sold 2,000t in March.
