Monthly HRC & Steel Plate Market Report Apr 2020
2020-05-08 08:59:55 【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
Generally speaking, the domestic HRC and steel plate market performance recovered a little this month with the positive control of the COVID-19 in China. Prices stopped going down sharply and even rebounded slightly in certain regions. To promote sales, leading producers such as Baowu Group, HBIS, Shougang Steel, Bengang Steel and Ansteel moved down HRC list prices for May production by RMB100-150/t (USD14-21/t). In the meantime, as prices for CR series products dropped more quickly than those of HRC and the demand from downstream automobile and home-appliance industries shrank obviously, producers tended to cut CR base raw material production and hike that of commercial HRC accordingly. Reporting insufficient orders, end users only purchased according to urgent needs and refused to build stockpiles, with wait-and-see attitudes. Meanwhile, not being confident of the market prospect, traders were eager to conclude deals and cautious about supplementing inventories during the month.
In the meantime, prices for HRC and steel plate went down in most other Asian markets during the week. As lots of countries were in lockdown, few deals were concluded.
Generally speaking, the domestic HRC and steel plate market performance recovered a little this month with the positive control of the COVID-19 in China. Prices stopped going down sharply and even rebounded slightly in certain regions. To promote sales, leading producers such as Baowu Group, HBIS, Shougang Steel, Bengang Steel and Ansteel moved down HRC list prices for May production by RMB100-150/t (USD14-21/t). In the meantime, as prices for CR series products dropped more quickly than those of HRC and the demand from downstream automobile and home-appliance industries shrank obviously, producers tended to cut CR base raw material production and hike that of commercial HRC accordingly. Reporting insufficient orders, end users only purchased according to urgent needs and refused to build stockpiles, with wait-and-see attitudes. Meanwhile, not being confident of the market prospect, traders were eager to conclude deals and cautious about supplementing inventories during the month.
In the meantime, prices for HRC and steel plate went down in most other Asian markets during the week. As lots of countries were in lockdown, few deals were concluded.
