HRC Market Report March 2016
2016-04-01 09:44:20 【Print】
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HRC prices soared in major Chinese domestic markets, boosted by low overall stockpiles as well as significant price increases for raw materials
. And the market was showing signs of warming up, since end users had begun to purchase with a view to building some stocks, for fear of another price increase . It is said that mills in Tangshan, Hebei province, the steel distribution center in China, are being forced to reduce output by at least 30% this year, and the supply was tight during the month, prompting HRC traders to lift prices. In the meantime, major producers, including Baosteel, Ansteel, Benxi Steel and WISCO, lifted their HRC list prices for April production by at least RMB200/t (USD30.9/t) . As a consequence, insiders do not think the HRC market price will go down in April.