HRC Market Report April 2016

HRC prices continued to rise sharply in China during the month with a markup of around RMB500/t (USD77/t), mainly boosted by the soaring price of raw materials due to tight supply. Nevertheless, as prices increased sharply and quickly but weren’t backed up by solid demand, downstream customers preferred to watch the market cautiously rather than place orders, waiting for a clear price trend.Asian Metal Copyright Nevertheless, as prices increased sharply and quickly but weren’t backed up by solid demand, downstream customers preferred to watch the market cautiously rather than place orders, waiting for a clear price trend.Asian Metal Copyright Considering that HRC prices failed to go up further and have shown signs of falling back in the last week of the month, insiders deem they are likely to go down slightly in May.