Monthly HRC & Steel Plate Market Report Mar 2020
2020-04-01 09:18:02 【Print】
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1. Market Highlights
Prices for HRC and steel plate continued to go down during the month, but markdowns were not as large as those in February. Frequent price changes in the futures market heightened spot market participants' cautious attitudes. Traders were eager to raise prices early this month boosted by the positive controlling signal of the COVID-19 in China, and end users were active in placing orders. However, prices entered the downward trend again from the second week of the month dragged by the quick outbreak of the COVID-19 in other countries. Reporting insufficient orders for finished products, downstream customers were in low purchasing activities and the demand for flat steel was rather weak. Meanwhile, mills slowed down production in succession, being burdened with heavy sales pressures as well as losses, and most of them maintained HRC list prices for April production flat.
In the meantime, prices for HRC and steel plate also decreased in other Asian countries during the month, and the market ran stagnantly with the outbreak of the COVID-19. Besides, some countries announced blocking.
Prices for HRC and steel plate continued to go down during the month, but markdowns were not as large as those in February. Frequent price changes in the futures market heightened spot market participants' cautious attitudes. Traders were eager to raise prices early this month boosted by the positive controlling signal of the COVID-19 in China, and end users were active in placing orders. However, prices entered the downward trend again from the second week of the month dragged by the quick outbreak of the COVID-19 in other countries. Reporting insufficient orders for finished products, downstream customers were in low purchasing activities and the demand for flat steel was rather weak. Meanwhile, mills slowed down production in succession, being burdened with heavy sales pressures as well as losses, and most of them maintained HRC list prices for April production flat.
In the meantime, prices for HRC and steel plate also decreased in other Asian countries during the month, and the market ran stagnantly with the outbreak of the COVID-19. Besides, some countries announced blocking.
