Monthly HRC & Steel Plate Market Report May 2020
2020-06-03 08:15:14 【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 and steel plate rebounded obviously in major Chinese domestic markets during the month, with the markup of RMB200-300/t (USD28-42/t). The significant price increase of raw materials as well as that in the steel futures market encouraged traders who already suffered during February and April to raise prices actively. Meanwhile, with the recovery of downstream industries, the demand for flat steel kept increasing, supporting prices to go up. Supported by higher production costs caused by increased prices of raw materials, major producers such as Baowu Group, HBIS, Shougang Steel, Bengang Steel and Ansteel all lifted HRC list prices for June production by RMB50-100/t (USD7-14/t) during the month. Besides, most producers produced actively in view of the upward price trend during the month. End users adopted cautiously wait-and-see attitudes and only purchased from hand to mouth.
In the meantime, prices for HRC and steel plate either went down or increased slightly in other Asian markets during the month. Though more and more countries lifted the lockdown gradually, the downstream industries ran slowly and the demand remained not strong enough.
Prices for HRC and steel plate rebounded obviously in major Chinese domestic markets during the month, with the markup of RMB200-300/t (USD28-42/t). The significant price increase of raw materials as well as that in the steel futures market encouraged traders who already suffered during February and April to raise prices actively. Meanwhile, with the recovery of downstream industries, the demand for flat steel kept increasing, supporting prices to go up. Supported by higher production costs caused by increased prices of raw materials, major producers such as Baowu Group, HBIS, Shougang Steel, Bengang Steel and Ansteel all lifted HRC list prices for June production by RMB50-100/t (USD7-14/t) during the month. Besides, most producers produced actively in view of the upward price trend during the month. End users adopted cautiously wait-and-see attitudes and only purchased from hand to mouth.
In the meantime, prices for HRC and steel plate either went down or increased slightly in other Asian markets during the month. Though more and more countries lifted the lockdown gradually, the downstream industries ran slowly and the demand remained not strong enough.
