HRC Market Report August 2016

HRC prices fluctuated frequently during the month, prompted by positive macro news stemming from the insufficient downstream demand during the rainy season.Asian Metal Copyright – whereupon, major mills, such as Baosteel, WISCO, Ansteel, Benxi Steel, HBIS and Shougang Steel, raised their HRC list prices for September production by RMB100-200t USD15-30t.Asian Metal Copyright Having reported satisfactory operating performance in H1, most domestic producers weren’t burdened by sales pressure and refused to cut prices. – whereupon, major mills, such as Baosteel, WISCO, Ansteel, Benxi Steel, HBIS and Shougang Steel, raised their HRC list prices for September production by RMB100-200/t (USD15-30/t).Asian Metal Copyright Having reported satisfactory operating performance in H1, most domestic producers weren’t burdened by sales pressure and refused to cut prices.Asian Metal Copyright In the meantime, with the country as a whole only completing 47% of the 45 million tonnes of yearly steel production capacity cuts targeted for January to July, participants anticipated that central government might release more restrictive policies in the remainder of the year to force mills to reduce production.Asian Metal Copyright – whereupon, major mills, such as Baosteel, WISCO, Ansteel, Benxi Steel, HBIS and Shougang Steel, raised their HRC list prices for September production by RMB100-200t USD15-30t.Asian Metal Copyright As a result, they became cautiously optimistic in their attitude regarding the market prospects.Asian Metal Copyright As a result, they became cautiously optimistic in their attitude regarding the market prospects.Asian Metal Copyright In addition, a sharp price increase in the HRC futures market also stimulated traders in the spot market to lift prices to a considerable extent.
.Asian Metal Copyright Having reported satisfactory operating performance in H1, most domestic producers weren’t burdened by sales pressure and refused to cut pricesAsian Metal Copyright