Monthly HRC and Steel Plate Market Report Oct 2021
2021-11-05 08:54:07 【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 of flat steel fluctuated frequently during the month, and they dropped obviously late this month. Therein, prices of HRC decreased by RMB300-400/t (UD47-62/t) during the month, and those of steel plate declined by around RMB100/t (USD16/t). The demand from downstream industries remained weak, and the overall market performance remained less satisfactory than that in September. Besides, the frequent price change heightened end users' wait-and-see attitudes and they purchased strictly according to orders for final products, leading to a dim market. Reporting the poor sales performance, traders' confidence weakened. Nevertheless, the market inventory ran at the low level due to the production cut from steel mills. Steel mills reported sales pressure late this month dragged by the sudden and sharp price drop.
In the meantime, prices of HRC and steel plate went up in most other Asian markets boosted by the shortage and rising prices of energy. The demand from some regions improved.
Prices of flat steel fluctuated frequently during the month, and they dropped obviously late this month. Therein, prices of HRC decreased by RMB300-400/t (UD47-62/t) during the month, and those of steel plate declined by around RMB100/t (USD16/t). The demand from downstream industries remained weak, and the overall market performance remained less satisfactory than that in September. Besides, the frequent price change heightened end users' wait-and-see attitudes and they purchased strictly according to orders for final products, leading to a dim market. Reporting the poor sales performance, traders' confidence weakened. Nevertheless, the market inventory ran at the low level due to the production cut from steel mills. Steel mills reported sales pressure late this month dragged by the sudden and sharp price drop.
In the meantime, prices of HRC and steel plate went up in most other Asian markets boosted by the shortage and rising prices of energy. The demand from some regions improved.
