Chinese HR strip prices rise continuously

BEIJING (Asian Metal) 22 Feb 17 - Chinese HR strip prices are going up continuously for the time being mainly supported by higher raw material costs and increase in steel mills’ list prices.Asian Metal Copyright However, as demand from customers keeps weak, insiders expect the price to be stable in the coming days.Asian Metal Copyright Current mainstream market prices of Q195 (232-355)mm*2.5mm*C in Tianjin are about RMB3,640/t (USD529/t) VAT included.Asian Metal Copyright His current sales volume is below 50tpd against that of about 2,000t in January.Asian Metal Copyright However, as demand from customers keeps weak, insiders expect the price to be stable in the coming days.

A distributor of HR strip in Tianjin told Asian Metal that the price keeps the upward trend at present. His price for Q195 315mm*2.5mm*C from Zhaobo Steel is RMB3,640/t (USD529/t) VAT included, up by RMB30/t (USD4/t) compared with that of the previous trading day.

The source attributes the price increase to higher purchase cost. According to him, Zhaobo Steel raised the list price for Q195 (232-355)mm*2.5mm*C by RMB70/t (USD10/t) yesterday to RMB3,550/t (USD516/t) VAT included on higher raw material prices of steel billet. “The price of steel billet Q235 150mm*150mm in Tangshan, Hebei province soared by RMB150/t (USD22/t) this week to about RMB3,320/t (USD482/t) VAT included,” he said.Asian Metal Copyright However, seeing the continuous price increase, customers without urgent need for materials are still holding a wait-and-see attitude now and refusing to place orders.Asian Metal Copyright However, seeing the continuous price increase, customers without urgent need for materials are still holding a wait-and-see attitude now and refusing to place orders.Asian Metal Copyright5mm*C from Ruifeng Steel is RMB3,510t USD510t VAT included, RMB90t USD13t higher than that of the previous trading day.Asian Metal Copyright With few deals concluded now against that of about 2,000t for last month, the source does not suppose the price will move up further in the next few days.Asian Metal Copyright Holding a stockpile of around 1,000t in hand now, the source believes the market will remain quiet in the next few days.Asian Metal Copyright He has a stockpile of around 1,000t in hand now.

A distributor of HR strip in Tangshan, Hebei province confirmed the price increase. His price for Q195 315mm*2.5mm*C from Ruifeng Steel is RMB3,510/t (USD510/t) VAT included, RMB90/t (USD13/t) higher than that of the previous trading day.

According to the source, Ruifeng Steel also increased the list price of HR strip Q195 (232-355)mm*2.5mm*C by RMB90/t (USD13/t) on 21st February to RMB3,500/t (USD508/t) VAT included.Asian Metal Copyright With an inventory of less than 1,000t in hand now, the source expects the price to be stable in the following days.Asian Metal Copyright Nevertheless, his prices are not competitive and customers in surrounding markets refuse to place orders. “HR strip prices in Tangshan used to be about RMB50/t (USD7/t) lower than those in nearby markets,” he said, adding that the current price of Q195 (232-355)mm*2.5mm*C in Langfang, Hebei province is RMB3,520/t (USD511/t) VAT included.Asian Metal Copyright Nevertheless, his prices are not competitive and customers in surrounding markets refuse to place orders.Asian Metal Copyright His current sales volume is below 50tpd against that of about 2,000t in January.Asian Metal Copyright5mm*C by RMB70t USD10t yesterday to RMB3,550t USD516t VAT included on higher raw material prices of steel billet.Asian Metal Copyright With an inventory of less than 1,000t in hand now, the source expects the price to be stable in the following days.

Another HR strip trader in Guangzhou, Guangdong province also reported to Asian Metal that the price for Q195 315mm*2.5mm*C from Ruifeng Steel is RMB3,680/t (USD535/t) VAT included, rising by RMB50/t (USD7/t) compared with that of the previous trading day.

Following the price increase in North China, the source has raised his prices by a total of RMB120/t (USD17/t) this week. However, seeing the sharp price increase, customers just purchase the material in small quantities for urgent need and the market sales performance continues to be bad.Asian Metal Copyright A distributor of HR strip in Tianjin told Asian Metal that the price keeps the upward trend at present.Asian Metal Copyright “Customers can not accept the sharp price increase immediately,” he said, adding that there are few deals concluded now against that of about 2,000t for last month.Asian Metal Copyright .Asian Metal Copyright Holding a stockpile of around 1,000t in hand now, the source believes the market will remain quiet in the next few days.

.Asian Metal Copyright Holding a stockpile of around 1,000t in hand now, the source believes the market will remain quiet in the next few daysAsian Metal Copyright