Monthly HRC Market Report Aug 2019
2019-09-03 13:38:47 【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 dropped by around RMB200/t (USD28/t) in major Chinese domestic markets during the month, dragged by the significant price decline of raw materials as well as the slow market. Prices for iron ore decreased by 32% MOM in August, and those for steel billet declined by 8% MOM during the corresponding period, weakening HRC market participants' confidence in the market outlook to a large extent. Major producers either lifted HRC prices or maintained prices for September production flat and refused to cut them seeing high production costs. Not being confident of the market prospect, traders were inactive in supplementing inventories. In the meantime, prices for HRC went down obviously in other Asian markets during the month. Insiders foresee a slight price decrease for HRC next month.
Prices for HRC dropped by around RMB200/t (USD28/t) in major Chinese domestic markets during the month, dragged by the significant price decline of raw materials as well as the slow market. Prices for iron ore decreased by 32% MOM in August, and those for steel billet declined by 8% MOM during the corresponding period, weakening HRC market participants' confidence in the market outlook to a large extent. Major producers either lifted HRC prices or maintained prices for September production flat and refused to cut them seeing high production costs. Not being confident of the market prospect, traders were inactive in supplementing inventories. In the meantime, prices for HRC went down obviously in other Asian markets during the month. Insiders foresee a slight price decrease for HRC next month.
