Monthly CRC and HGI Coil Market Report May 2019
2019-06-06 08:58:51 【Print】
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1. Market Highlights
In May, prices of CRC and HGI coil in Chinese leading markets went down by RMB100-180/t (USD14-26/t) on shrinking demand from downstream industries and discouraged by the escalating trade war between China and the United States. Steel mills became less active in producing CRC and HGI coil due to reduced profit but tried to hold prices firm. In the international market, China's export prices for CRC and HGI coil dropped gradually on the depreciation of RMB and the decline in Chinese domestic market. Those in other Asian countries like Vietnam followed the downward trend. As demand from downstream industries will continue to shrink, insiders predict that prices of CRC and HGI coil would continue to come down in June.
In May, prices of CRC and HGI coil in Chinese leading markets went down by RMB100-180/t (USD14-26/t) on shrinking demand from downstream industries and discouraged by the escalating trade war between China and the United States. Steel mills became less active in producing CRC and HGI coil due to reduced profit but tried to hold prices firm. In the international market, China's export prices for CRC and HGI coil dropped gradually on the depreciation of RMB and the decline in Chinese domestic market. Those in other Asian countries like Vietnam followed the downward trend. As demand from downstream industries will continue to shrink, insiders predict that prices of CRC and HGI coil would continue to come down in June.
