Chinese HRC prices up again
2016-04-19 09:01:32 [Print]
BEIJING (Asian Metal) 19 Apr 16 - HRC prices increased by another RMB20-40/t (USD3.1-6.2/t) in China on Monday boosted by sharp prices increase of raw materials, after a markup of around 8% last week. Taking Q235B 5.5mm*1,500mm*C as an example, in Shanghai, Guangzhou and Hangzhou, prices are RMB2,850/t (USD439/t), RMB2,800/t (USD432/t) and RMB2,910/t (USD449/t) VAT included respectively. Insiders foresee a stable price in following two or three days.
A trader in Shanghai claimed that his price for Q235B 5.5mm*1,500mm*C from Ansteel is RMB2,850/t (USD439/t), up by RMB20/t (USDUSD3.1/t) compared with last Friday.
Attributing the price increase to the RMB90/t (USD13.9/t) price soar of the raw material, steel billet during the weekend, the source does not think the HRC price can go up again in the near future in view of the current dim market. With the current sales volume of 100tpd, one-third of that at the beginning of April, the source disclosed that continuous prices increase in recent two weeks made end users cautious about purchasing, and currently even inquiries shrink obviously, let alone firm orders. Holding a regular stock of 2,000t at hand, he sold 5,000t totally in March.
A trader in Guangzhou quoted RMB2,800/t (USD432/t) for Q235B 5.5mm*1,500mm*C from Benxi Steel, rising by RMB40/t (USD6.2/t) over last trading day.
Holding a stock of 4,000t at hand against 5,000t of last year, the source confirmed it is the rising raw materials’ prices that boosted the current price rebound of HRC after a falling back of around RMB60/t (USD9.3/t) late of last week. Noted by him, continuous heavy storm made the demand from downstream industries reduce much recently, and his current sales volume was just 300tpd, while it could reach 600tpd late March. Considering the unsatisfactory market performance, he does not think the HRC price will keep increasing in the near future. His sales volume was 9,000t last month.
A trader in Hangzhou, Zhejiang province reported that his price for Q235B 5.5mm*1,500mm*C from Shagang Steel is RMB2,910/t (USD449/t), up by RMB40/t (USD6.2/t) compared with last Friday.
According to the source, the overall low stockpile stimulates HRC traders to move up prices in succession, but it is hard for downstream customers to accept the large and quick price increase, and they adopt wait-and-see attitudes, leading to a quiet market. Therefore, he deems the HRC price is hard to rise again in the short term. His current sales volume is just 50tpd, against 70-80t last Monday, and the total sales volume was 2,000t in March. With the current stock of 500t, he claimed it was 2,000t last month.
A trader in Shanghai claimed that his price for Q235B 5.5mm*1,500mm*C from Ansteel is RMB2,850/t (USD439/t), up by RMB20/t (USDUSD3.1/t) compared with last Friday.
Attributing the price increase to the RMB90/t (USD13.9/t) price soar of the raw material, steel billet during the weekend, the source does not think the HRC price can go up again in the near future in view of the current dim market. With the current sales volume of 100tpd, one-third of that at the beginning of April, the source disclosed that continuous prices increase in recent two weeks made end users cautious about purchasing, and currently even inquiries shrink obviously, let alone firm orders. Holding a regular stock of 2,000t at hand, he sold 5,000t totally in March.
A trader in Guangzhou quoted RMB2,800/t (USD432/t) for Q235B 5.5mm*1,500mm*C from Benxi Steel, rising by RMB40/t (USD6.2/t) over last trading day.
Holding a stock of 4,000t at hand against 5,000t of last year, the source confirmed it is the rising raw materials’ prices that boosted the current price rebound of HRC after a falling back of around RMB60/t (USD9.3/t) late of last week. Noted by him, continuous heavy storm made the demand from downstream industries reduce much recently, and his current sales volume was just 300tpd, while it could reach 600tpd late March. Considering the unsatisfactory market performance, he does not think the HRC price will keep increasing in the near future. His sales volume was 9,000t last month.
A trader in Hangzhou, Zhejiang province reported that his price for Q235B 5.5mm*1,500mm*C from Shagang Steel is RMB2,910/t (USD449/t), up by RMB40/t (USD6.2/t) compared with last Friday.
According to the source, the overall low stockpile stimulates HRC traders to move up prices in succession, but it is hard for downstream customers to accept the large and quick price increase, and they adopt wait-and-see attitudes, leading to a quiet market. Therefore, he deems the HRC price is hard to rise again in the short term. His current sales volume is just 50tpd, against 70-80t last Monday, and the total sales volume was 2,000t in March. With the current stock of 500t, he claimed it was 2,000t last month.
