Monthly HRC Market Report Nov 2018
2018-12-04 09:00:16 【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 decreased by RMB500-600/t (USD727-872/t) in major Chinese domestic markets during the month, dragged by significant prices declines in the steel futures market as well as those of steel billet. Major producers such as Baowu Group, HBIS, Ansteel and Baosteel announced the decision to cut HRC EXW prices by around RMB200/t (USD29/t) for December to follow the downward price trend in the market. Meanwhile, profits for major producers were narrowed at the end of the month after deducting subsidies for agents. Reporting limited sales volumes, traders showed little confidence in the market prospect and they were eager to reduce stockpiles to avoid potential risks. In the meantime, end users were cautious about purchasing seeing the downward price trend, and they only placed orders according to urgent needs. Considering prices have hit a historical level and mills are likely to reduce outputs in December, insiders do not think prices for HRC will go down further in December.
Prices for HRC decreased by RMB500-600/t (USD727-872/t) in major Chinese domestic markets during the month, dragged by significant prices declines in the steel futures market as well as those of steel billet. Major producers such as Baowu Group, HBIS, Ansteel and Baosteel announced the decision to cut HRC EXW prices by around RMB200/t (USD29/t) for December to follow the downward price trend in the market. Meanwhile, profits for major producers were narrowed at the end of the month after deducting subsidies for agents. Reporting limited sales volumes, traders showed little confidence in the market prospect and they were eager to reduce stockpiles to avoid potential risks. In the meantime, end users were cautious about purchasing seeing the downward price trend, and they only placed orders according to urgent needs. Considering prices have hit a historical level and mills are likely to reduce outputs in December, insiders do not think prices for HRC will go down further in December.
