HRC Market Report February 2017

Prices for HRC in China kept fluctuating during the month, mainly influenced by prices changes in the futures market as well as those of raw materials. Baosteel and Ansteel maintained HRC list prices for March production unchanged on the basis of February, while WISCO, HBIS and Shougang Steel lifted them by RMB100/t (USD15/t), indicating that major producers were not so confident of the market outlook seeing the sharp price drop right after the Spring Festival holiday (January 27-February 4).Asian Metal Copyright Considering short supply as well as rising raw materials’ prices, insiders foresee a price increase of HRC in March.Asian Metal Copyright In the meantime, end users were cautious about purchasing and the overall market performance showed no signs of recovering.Asian Metal Copyright Baosteel and Ansteel maintained HRC list prices for March production unchanged on the basis of February, while WISCO, HBIS and Shougang Steel lifted them by RMB100t USD15t, indicating that major producers were not so confident of the market outlook seeing the sharp price drop right after the Spring Festival holiday January 27-February 4.Asian Metal Copyright Nevertheless, most traders expected for a price rise in the coming “Golden March” and “Silver April”, and they refused to cut prices down late of the month, despite the poor sales performance.Asian Metal Copyright Nevertheless, most traders expected for a price rise in the coming “Golden March” and “Silver April”, and they refused to cut prices down late of the month, despite the poor sales performance.Asian Metal Copyright Considering short supply as well as rising raw materials’ prices, insiders foresee a price increase of HRC in March.

.Asian Metal Copyright Nevertheless, most traders expected for a price rise in the coming “Golden March” and “Silver April”, and they refused to cut prices down late of the month, despite the poor sales performanceAsian Metal Copyright