Monthly HRC Market Report Nov 2017
2017-12-04 18:01:39 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
Prices for HRC increased by around RMB210/t (USD32/t) in major Chinese domestic markets during the month boosted by prices soar of raw materials such as iron ore and steel billet. The market performance recovered a little following the price rise. Holding low inventories at hand, most traders were eager to lift prices, while they were cautious about supplementing inventories, for fear of potential risks. Though mills nearby Beijing-Tianjin-Hebei province were required to control the operation of blast furnace by 50% from Mid-November to the end of next March, the HRC supply had not been cut obviously during the month since mills were active in producing seeing considerable profits, and they tried to purchase steel scrap to guarantee normal production of HRC. Prices policies for December from major producers were different. Therein, Baosteel, WISCO, HBIS and Bengang Steel maintained prices flat, while Ansteel lifted them by RMB117/t (USD18/t). Considering the overall market inventory remains low, insiders deem the price for HRC is likely to go up further in December.
Prices for HRC increased by around RMB210/t (USD32/t) in major Chinese domestic markets during the month boosted by prices soar of raw materials such as iron ore and steel billet. The market performance recovered a little following the price rise. Holding low inventories at hand, most traders were eager to lift prices, while they were cautious about supplementing inventories, for fear of potential risks. Though mills nearby Beijing-Tianjin-Hebei province were required to control the operation of blast furnace by 50% from Mid-November to the end of next March, the HRC supply had not been cut obviously during the month since mills were active in producing seeing considerable profits, and they tried to purchase steel scrap to guarantee normal production of HRC. Prices policies for December from major producers were different. Therein, Baosteel, WISCO, HBIS and Bengang Steel maintained prices flat, while Ansteel lifted them by RMB117/t (USD18/t). Considering the overall market inventory remains low, insiders deem the price for HRC is likely to go up further in December.
