HRC Market Report April 2017

Prices for HRC in China continued on the downward trend in the first three weeks of the month, and showed signs of rebounding in the fourth boosted by prices increases in the steel futures market as well as those of raw materials.Asian Metal CopyrightPrices for HRC in China continued on the downward trend in the first three weeks of the month, and showed signs of rebounding in the fourth boosted by prices increases in the steel futures market as well as those of raw materials.Asian Metal Copyright Meanwhile, the market performed inactively as end users were scared of the sharp price decline and inactive in placing orders. Leading producers like Baosteel, WISCO, Ansteel, Bengang Steel, HBIS and Shougang Steel cut HRC list prices by around RMB400/t (USD60/t) for May production to attract customers, but traders were cautious about supplementing inventories seeing the poor sales performance.Asian Metal Copyright In the meantime, the market stockpile was reduced slightly in the last two weeks of the month, and that’s why traders lifted prices tentatively.Asian Metal Copyright In the meantime, the market stockpile was reduced slightly in the last two weeks of the month, and that’s why traders lifted prices tentatively.Asian Metal Copyright Insiders foresee a slight price rebound in May.Asian Metal Copyright Insiders foresee a slight price rebound in May.

.Asian Metal Copyright Insiders foresee a slight price rebound in MayAsian Metal Copyright