HRC Market Report January 2017

HRC prices didn’t change significantly during the month, with the market stagnating as end users gradually retreated for the Spring Festival (27 January) and downstream demand shrank dramatically.Asian Metal Copyright Insiders foresee a slight price increase in February in view of the low overall stockpile, as well as the rise in demand with end users returning to the market.Asian Metal Copyright Meanwhile, leading producers such as Baosteel, WISCO, Bengang Steel, HBIS and Shougang Steel maintained stable HRC list prices for February, indicating that they weren't entirely confident about the market prospects.Asian Metal Copyright Though prices in the futures market kept fluctuating, traders in the spot market resisted the urge to adjust prices, seeing the poor sales performance.Asian Metal Copyright Though prices in the futures market kept fluctuating, traders in the spot market resisted the urge to adjust prices, seeing the poor sales performance.Asian Metal CopyrightHRC prices didn’t change significantly during the month, with the market stagnating as end users gradually retreated for the Spring Festival 27 January and downstream demand shrank dramatically.Asian Metal Copyright Besides, considering that HRC prices had soared by over 40% in 2016, most traders were uncertain about the market after the Spring Festival and refused to build large inventories.Asian Metal Copyright Though prices in the futures market kept fluctuating, traders in the spot market resisted the urge to adjust prices, seeing the poor sales performance.Asian Metal Copyright Insiders foresee a slight price increase in February in view of the low overall stockpile, as well as the rise in demand with end users returning to the market.
.Asian Metal Copyright Meanwhile, leading producers such as Baosteel, WISCO, Bengang Steel, HBIS and Shougang Steel maintained stable HRC list prices for February, indicating that they weren't entirely confident about the market prospectsAsian Metal Copyright