Monthly HRC Market Report May 2019
2019-06-04 08:35:32 【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 failed to keep going up and fell back in major Chinese domestic markets during the month. Confidence of market participants was weakened early this month due to the acceleration of the trade war between U.S. and China. Traders were cautious about supplementing inventories, and end users were inactive in building large stockpiles, with wait-and-see attitudes. Reporting rising production costs caused by unreasonably high prices of raw materials, producers tented to maintain HRC EXW prices for June production flat rather than cut them down, despite the slow market. Considering the high supply but insufficient demand, insiders think that the price for HRC might go down further in June.
Prices for HRC failed to keep going up and fell back in major Chinese domestic markets during the month. Confidence of market participants was weakened early this month due to the acceleration of the trade war between U.S. and China. Traders were cautious about supplementing inventories, and end users were inactive in building large stockpiles, with wait-and-see attitudes. Reporting rising production costs caused by unreasonably high prices of raw materials, producers tented to maintain HRC EXW prices for June production flat rather than cut them down, despite the slow market. Considering the high supply but insufficient demand, insiders think that the price for HRC might go down further in June.
