HRC Market Report July 2017

Prices for HRC showed a spirally upward trend during the month, with a total mark-up of RMB200-300/t (USD30-45/t).Asian Metal Copyright However, end users were cautious about placing orders and had no intention to build large stockpiles, for fear of a sudden falling back.Asian Metal Copyright Meanwhile, those for raw materials such as iron ore and steel billet increased obviously, strengthening market participants’ confidence to some extent.Asian Metal Copyright Considering low inventory support will fade with new materials arriving at the market late of August, insiders are worried about a price falling back by then.Asian Metal Copyright However, end users were cautious about placing orders and had no intention to build large stockpiles, for fear of a sudden falling back. Leading producers such as Baosteel, WISCO, Ansteel, Bengang Steel and HBIS all lifted HRC list prices for August production by RMB300-400/t (USD45-60/t), indicating that they adopted optimistic attitudes towards the market outlook. Besides, considerable profits of RMB600-800/t (USD90-120/t) stimulated HRC mills to produce actively, and almost all of them were under normal production during the month.Asian Metal Copyright Considering low inventory support will fade with new materials arriving at the market late of August, insiders are worried about a price falling back by then.Asian Metal Copyright Considering low inventory support will fade with new materials arriving at the market late of August, insiders are worried about a price falling back by then.

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