Monthly HRC and Steel Plate Market Report Nov 2021
2021-12-03 09:35:28 【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 HRC and steel plate continued going down during the month, weakening market participants' confidence to a large extent. Discouraged by the continuous price decline, end users remained cautious about purchasing, together with the sluggish demand, leading to the poor sales performance. Both steel mills and traders reported sales pressures and they cut prices continuously to promote sales. Leading produces such as Baowu Group, Ansteel, HBIS and Shougang Group moved down HRC EXW prices for December production by around RMB300/t (USD47/t). Though prices showed signs of rebounding late this month, most participants showed little confidence in the market prospect seeing the sluggish demand from downstream industries and the market continued performing unsatisfactorily.
In the meantime, prices of HRC and steel plate went down in most other Asian markets during the month. Discouraged by the price decline in China, overseas traders were eager to conclude deals to avoid potential risks, while end users held back from purchasing, waiting for a further price drop.
Prices of HRC and steel plate continued going down during the month, weakening market participants' confidence to a large extent. Discouraged by the continuous price decline, end users remained cautious about purchasing, together with the sluggish demand, leading to the poor sales performance. Both steel mills and traders reported sales pressures and they cut prices continuously to promote sales. Leading produces such as Baowu Group, Ansteel, HBIS and Shougang Group moved down HRC EXW prices for December production by around RMB300/t (USD47/t). Though prices showed signs of rebounding late this month, most participants showed little confidence in the market prospect seeing the sluggish demand from downstream industries and the market continued performing unsatisfactorily.
In the meantime, prices of HRC and steel plate went down in most other Asian markets during the month. Discouraged by the price decline in China, overseas traders were eager to conclude deals to avoid potential risks, while end users held back from purchasing, waiting for a further price drop.
