Monthly HRC & Steel Plate Market Report Aug 2020
2020-09-03 08:48:11 【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 continued to go up during the month, with the markup of about 2%. Boosted by the higher production costs, major producers such as Baowu Group, HBIS, Shougang Steel, Ansteel and Bengang Steel lifted HRC EXW prices for September production by RMB200-300/t (USD29-43/t) during the month, stimulating traders to follow suit. Besides, most producers produced HRC and steel plate fully stimulated by the considerable profits. Reporting higher purchasing costs but unsatisfactory sales performance, traders were cautious about supplementing inventories, with wait-and-see attitudes. In the meantime, end users just purchased from hand to mouth and refused to build stocks, complaining unreasonably high price.
Meanwhile, prices for HRC and steel plate went up in other Asian markets boosted by the upward price trend in China as well as the worldwide raw material price increase. Besides, the sales performance recovered in some regions with the positive control of the COVID-19.
Prices for HRC and steel plate continued to go up during the month, with the markup of about 2%. Boosted by the higher production costs, major producers such as Baowu Group, HBIS, Shougang Steel, Ansteel and Bengang Steel lifted HRC EXW prices for September production by RMB200-300/t (USD29-43/t) during the month, stimulating traders to follow suit. Besides, most producers produced HRC and steel plate fully stimulated by the considerable profits. Reporting higher purchasing costs but unsatisfactory sales performance, traders were cautious about supplementing inventories, with wait-and-see attitudes. In the meantime, end users just purchased from hand to mouth and refused to build stocks, complaining unreasonably high price.
Meanwhile, prices for HRC and steel plate went up in other Asian markets boosted by the upward price trend in China as well as the worldwide raw material price increase. Besides, the sales performance recovered in some regions with the positive control of the COVID-19.
