Monthly HRC and Steel Plate Market Report Feb 2022
2022-03-09 14:25:15 【Print】
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1. Market Highlights
The domestic HRC and steel plate market ran slowly during the month dragged by the low purchasing activities of end users as well as the soft demand from downstream industries. Prices changed narrowly and frequently. Boosted by the rising prices of raw materials, steel mills and traders remained eager to raise prices, while end users refused to accept higher prices, and the market ran stagnantly. Leading producers such as Baowu Group, Ansteel, Bengang Steel, HBIS and Shougang Group announced the decision to lift HRC EXW prices for March production by RMB300-400/t (USD47-63/t) during the month. Restricted by the pollution curbs during the Winter Olympic Games, the supply reduced.
In the meantime, prices of HRC and steel plate went up in other Asian markets during the month. Stimulated by the energy price increase, overseas steel mills lifted prices actively. The demand kept improving, but far from satisfactory.
The domestic HRC and steel plate market ran slowly during the month dragged by the low purchasing activities of end users as well as the soft demand from downstream industries. Prices changed narrowly and frequently. Boosted by the rising prices of raw materials, steel mills and traders remained eager to raise prices, while end users refused to accept higher prices, and the market ran stagnantly. Leading producers such as Baowu Group, Ansteel, Bengang Steel, HBIS and Shougang Group announced the decision to lift HRC EXW prices for March production by RMB300-400/t (USD47-63/t) during the month. Restricted by the pollution curbs during the Winter Olympic Games, the supply reduced.
In the meantime, prices of HRC and steel plate went up in other Asian markets during the month. Stimulated by the energy price increase, overseas steel mills lifted prices actively. The demand kept improving, but far from satisfactory.
