Chinese HR strip market quiet
2017-03-29 09:19:15 [Print]
BEIJING (Asian Metal) 29 Mar 17 - Chinese HR strip market continues to be dim at present on weak customer demand. Current mainstream market prices of Q195 (232-355)mm*2.5mm*C in Tianjin are about RMB3,300/t (USD480/t) VAT included with the payment of D/P. Insiders are not optimistic about the market outlook in April.
A distributor of HR strip in Tianjin told Asian Metal that the market remains quiet for the time being. His price for Q195 315mm*2.5mm*C from Qifeng Steel is RMB3,300/t (USD480/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, Qifeng Steel raised the list price for Q195 (232-355)mm*2.5mm*C by RMB30/t (USD4/t) yesterday to RMB3,300/t (USD480/t) VAT included after the sharp decrease of more than RMB100/t (USD15/t) on Monday. However, with few deals concluded now against that of about 2,000t for last month, the source said customers without urgent need for materials are still holding a wait-and-see attitude now and refusing to place orders. He has no confidence in the market outlook and just holds a stockpile of less than 500t in hand now to avoid risks.
A trader of HR strip in Tangshan, Hebei province confirmed the sluggish market. His price for Q195 315mm*2.5mm*C from Ruifeng Steel is RMB3,240/t (USD471/t) VAT included, stable compared with that of the previous trading day.
According to the source, Ruifeng Steel keeps the list price of HR strip Q195 (232-355)mm*2.5mm*C unchanged at RMB3,230/t (USD469/t) VAT included now after the decrease of RMB140/t (USD20/t) last weekend. Nevertheless, the market sales performance continues to be bad at the moment under customers’ cautious attitude. “Many customers are expecting the price to drop further and placing orders sparingly,” he said, adding that his current sales volume is below 50tpd against that of around 3,000t for last month. With an inventory of no more than 500t in hand now, the source does not believe the market will recover in the next few days.
Another HR strip trader in Foshan, Guangdong province reported to Asian Metal that the price for Q195 315mm*2.5mm*C from Ruifeng Steel is RMB3,400/t (USD494/t) VAT included, the same as that of the previous trading day.
The source keeps his prices stable at the moment after the decrease of RMB110/t (USD16/) early this week. “I normally follow the price trend in North China to adjust prices,” he explained. However, with few deals concluded now against that of around 3,000t for last month, the source said demand from downstream customers does not improve at present and this situation will continue in the foreseeable future. Holding a stockpile of almost 3,000t in hand now, the source supposes the price is likely to go down again in the following days.
A distributor of HR strip in Tianjin told Asian Metal that the market remains quiet for the time being. His price for Q195 315mm*2.5mm*C from Qifeng Steel is RMB3,300/t (USD480/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, Qifeng Steel raised the list price for Q195 (232-355)mm*2.5mm*C by RMB30/t (USD4/t) yesterday to RMB3,300/t (USD480/t) VAT included after the sharp decrease of more than RMB100/t (USD15/t) on Monday. However, with few deals concluded now against that of about 2,000t for last month, the source said customers without urgent need for materials are still holding a wait-and-see attitude now and refusing to place orders. He has no confidence in the market outlook and just holds a stockpile of less than 500t in hand now to avoid risks.
A trader of HR strip in Tangshan, Hebei province confirmed the sluggish market. His price for Q195 315mm*2.5mm*C from Ruifeng Steel is RMB3,240/t (USD471/t) VAT included, stable compared with that of the previous trading day.
According to the source, Ruifeng Steel keeps the list price of HR strip Q195 (232-355)mm*2.5mm*C unchanged at RMB3,230/t (USD469/t) VAT included now after the decrease of RMB140/t (USD20/t) last weekend. Nevertheless, the market sales performance continues to be bad at the moment under customers’ cautious attitude. “Many customers are expecting the price to drop further and placing orders sparingly,” he said, adding that his current sales volume is below 50tpd against that of around 3,000t for last month. With an inventory of no more than 500t in hand now, the source does not believe the market will recover in the next few days.
Another HR strip trader in Foshan, Guangdong province reported to Asian Metal that the price for Q195 315mm*2.5mm*C from Ruifeng Steel is RMB3,400/t (USD494/t) VAT included, the same as that of the previous trading day.
The source keeps his prices stable at the moment after the decrease of RMB110/t (USD16/) early this week. “I normally follow the price trend in North China to adjust prices,” he explained. However, with few deals concluded now against that of around 3,000t for last month, the source said demand from downstream customers does not improve at present and this situation will continue in the foreseeable future. Holding a stockpile of almost 3,000t in hand now, the source supposes the price is likely to go down again in the following days.
