Monthly HRC Market Report Dec 2018
2019-01-03 09:09:00 【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 in China increased obviously during the month, but they declined slightly in other Asian markets. Boosted by the positive news that China and the U.S. reached a consensus on suspension of imposing extra tariffs, prices for HRC in China soared by about RMB200/t (USD29/t) in early December, and they remained firm in the following two weeks, but declined again in the fourth week of the month. Meanwhile, the market performance was better than that in November when the price dropped by approximately RMB600/t (USD88/t). In the meantime, the overall market inventory ran on a low level, and traders were not burdened with any sales pressures. To promote sales, major producers such as Baowu Group, Bengang Steel, Ansteel and HBIS cut HRC EXW prices for January production by around RMB200/t. Considering the downstream demand will shrink further in January with the approach of the Spring Festival (5 February), insiders foresee a nationwide price decline for HRC in January.
Prices for HRC in China increased obviously during the month, but they declined slightly in other Asian markets. Boosted by the positive news that China and the U.S. reached a consensus on suspension of imposing extra tariffs, prices for HRC in China soared by about RMB200/t (USD29/t) in early December, and they remained firm in the following two weeks, but declined again in the fourth week of the month. Meanwhile, the market performance was better than that in November when the price dropped by approximately RMB600/t (USD88/t). In the meantime, the overall market inventory ran on a low level, and traders were not burdened with any sales pressures. To promote sales, major producers such as Baowu Group, Bengang Steel, Ansteel and HBIS cut HRC EXW prices for January production by around RMB200/t. Considering the downstream demand will shrink further in January with the approach of the Spring Festival (5 February), insiders foresee a nationwide price decline for HRC in January.
