HRC Market Report June 2017

Prices for HRC went through a down-up trend during the month. They fell back slightly in the first week of the month influenced by prices drops in the steel futures market, but went up sharply by over RMB300/t (USD90/t) in the remainder of the month boosted by low stockpiles.Asian Metal CopyrightPrices for HRC went through a down-up trend during the month.Asian Metal Copyright As traders were cautious about supplementing inventories in March-May when prices kept decreasing and mills failed to operate fully facing environmental protection pressures, the market inventory ran on a relatively low level during the month, and that’s why traders lifted prices actively under the inactive market. Meanwhile, only Bengang Steel lifted HRC list prices for July production by RMB117/t (USD17/t), while other major producers such as Baosteel, WISCO, HBIS and Ansteel all maintained prices stable, with cautiously optimistic attitudes towards the market prospect.Asian Metal Copyright Considering the market inventory will increase after Mid-July, insiders are worried about a price falling back by then.Asian Metal Copyright Besides, mills produced actively during the month seeing attractive profits benefited from decreasing prices of primary raw materials such as iron ore and coke but rising HRC prices.Asian Metal Copyright They fell back slightly in the first week of the month influenced by prices drops in the steel futures market, but went up sharply by over RMB300t USD90t in the remainder of the month boosted by low stockpiles.Asian Metal Copyright Considering the market inventory will increase after Mid-July, insiders are worried about a price falling back by then.

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