Monthly HRC Market Report Aug 2018
2018-09-04 09:36:07 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
1. Market Highlights
Prices for HRC continued to go up in the two three weeks of the month boosted by low inventories, but they began to fall back in the third week following prices decline of raw materials as well as those in the steel futures market. Major producers such as Baosteel, WISCO, Ansteel, Bengang Steel and HBIS either maintained list prices for September production flat or raised them slightly. Complaining high purchasing costs but limited orders, end users only purchased according to urgent needs and refused to place large orders, with wait-and-see attitudes. Meanwhile, as profits for HRC were less considerable than those for construction steel, mills tended to slow down the HRC production and accelerate that for construction steel during the month, which means the supply for HRC will be reduced, restraining the price from dropping obviously. Insiders foresee a slight price rise in September.
Prices for HRC continued to go up in the two three weeks of the month boosted by low inventories, but they began to fall back in the third week following prices decline of raw materials as well as those in the steel futures market. Major producers such as Baosteel, WISCO, Ansteel, Bengang Steel and HBIS either maintained list prices for September production flat or raised them slightly. Complaining high purchasing costs but limited orders, end users only purchased according to urgent needs and refused to place large orders, with wait-and-see attitudes. Meanwhile, as profits for HRC were less considerable than those for construction steel, mills tended to slow down the HRC production and accelerate that for construction steel during the month, which means the supply for HRC will be reduced, restraining the price from dropping obviously. Insiders foresee a slight price rise in September.
