Monthly HRC Market Report Feb 2019
2019-03-01 08:51:45 【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 in China rose obviously right after the Spring Festival holiday (4-11 February) boosted by price soar of iron ore caused by the coal accident in Vale of Brazil, but they fell back quickly in the following several days of the first trading week, and kept fluctuating in the last two weeks of the month. The market performed inactively in the first two weeks after the Spring Festival holiday as most end users had not restarted purchasing yet, but it recovered a little bit during the last week following the price increase. Holding low inventories in hand, most traders adopted cautiously optimistic attitudes towards the market prospect, and they did not think the price will go down in the near future. Besides, major producers raised HRC EXW prices for March production by RMB58-116//t (USD8.6-17.2/t). In the meantime, prices for HRC either kept stable or rose in other Asian markets during the month. Insiders foresee a slight price rise for HRC next month.
Prices for HRC in China rose obviously right after the Spring Festival holiday (4-11 February) boosted by price soar of iron ore caused by the coal accident in Vale of Brazil, but they fell back quickly in the following several days of the first trading week, and kept fluctuating in the last two weeks of the month. The market performed inactively in the first two weeks after the Spring Festival holiday as most end users had not restarted purchasing yet, but it recovered a little bit during the last week following the price increase. Holding low inventories in hand, most traders adopted cautiously optimistic attitudes towards the market prospect, and they did not think the price will go down in the near future. Besides, major producers raised HRC EXW prices for March production by RMB58-116//t (USD8.6-17.2/t). In the meantime, prices for HRC either kept stable or rose in other Asian markets during the month. Insiders foresee a slight price rise for HRC next month.
