Monthly HRC Market Report Nov 2018

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.Asian Metal Copyright Reporting limited sales volumes, traders showed little confidence in the market prospect and they were eager to reduce stockpiles to avoid potential risks.Asian Metal Copyright Meanwhile, profits for major producers were narrowed at the end of the month after deducting subsidies for agents.Asian Metal Copyright1.Asian Metal Copyright Reporting limited sales volumes, traders showed little confidence in the market prospect and they were eager to reduce stockpiles to avoid potential risks.Asian Metal Copyright Reporting limited sales volumes, traders showed little confidence in the market prospect and they were eager to reduce stockpiles to avoid potential risks.Asian Metal Copyright In the meantime, end users were cautious about purchasing seeing the downward price trend, and they only placed orders according to urgent needs.Asian Metal Copyright In the meantime, end users were cautious about purchasing seeing the downward price trend, and they only placed orders according to urgent needs.Asian Metal Copyright 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.

.Asian Metal Copyright 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 DecemberAsian Metal Copyright