HRC Market Report July 2016

HRC prices rebounded significantly in major Chinese domestic markets during the month, boosted by traders’ positive expectations regarding the market outlook and price rises in the steel futures market, with markups ranging from RMB140/t (USD21/t) to RMB210/t (USD31/t). Meanwhile, major mills like Baosteel, WISCO, Ansteel, Benxi Steel, Shougang Steel and HBIS either maintained HRC list prices for August production at the same level or lifted them by RMB50-120/t (USD7-18/t), indicating that producers had adopted a cautiously optimistic attitude with regard to the market prospects.Asian Metal Copyright .Asian Metal Copyright Nevertheless, the market performance continued to be unsatisfactory because of insufficient demand, influenced by the high temperatures and continuous rainfall during the rainy season.Asian Metal Copyright With material in short supply, insiders foresee a further price hike in August despite the slow market.Asian Metal Copyright With material in short supply, insiders foresee a further price hike in August despite the slow market.

.Asian Metal Copyright Meanwhile, major mills like Baosteel, WISCO, Ansteel, Benxi Steel, Shougang Steel and HBIS either maintained HRC list prices for August production at the same level or lifted them by RMB50-120t USD7-18t, indicating that producers had adopted a cautiously optimistic attitude with regard to the market prospectsAsian Metal Copyright