Monthly CRC and HGI Coil Market Report Jan 2018
2018-02-02 09:11:19 【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
Influenced by the shrank demand from downstream customers with the approach of Chinese New Year, prices of CRC and HGI coil recorded a mark-down of RMB200-400/t (USD32-64/t) and RMB200/t (USD32/t) respectively this month. Even though steel mills such as Baosteel, WISCO and HBIS tried to maintenance EXW prices stable for February production to bring much confidence to participants, markets failed to improve on weak demand. Steel mills will regularly produce CRC and HGI coil during the holiday for Chinese New Year (Feb 15-21), causing increasing stocks after the holiday. Traders will face much pressure from reducing stocks after the holiday. Insiders predict that prices of CRC and HGI coil will decrease slightly in the coming month.
Influenced by the shrank demand from downstream customers with the approach of Chinese New Year, prices of CRC and HGI coil recorded a mark-down of RMB200-400/t (USD32-64/t) and RMB200/t (USD32/t) respectively this month. Even though steel mills such as Baosteel, WISCO and HBIS tried to maintenance EXW prices stable for February production to bring much confidence to participants, markets failed to improve on weak demand. Steel mills will regularly produce CRC and HGI coil during the holiday for Chinese New Year (Feb 15-21), causing increasing stocks after the holiday. Traders will face much pressure from reducing stocks after the holiday. Insiders predict that prices of CRC and HGI coil will decrease slightly in the coming month.
