Monthly HRC and Steel Plate Market Report Mar 2022
2022-04-11 14:15:05 【Print】
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1. Market Highlights
Generally speaking, the domestic HRC and steel plate market ran slowly during the month dragged by the new wave of pandemic, though it was the traditional peak season. Encouraged by the rising price of raw materials, both steel mills and traders remained eager to raise prices. Leading producers such as Baowu Group, HBIS, Shougang Group and Ansteel all lifted HRC EXW prices for April production by RMB300-400/t (USD47-63/t) during the month. Besides, the market inventory kept low. However, the demand from downstream industries was soft. On the one hand, the operation of downstream plants slowed down restricted by the strict control under the pandemic, while on the other hand, end users kept cautious about purchasing seeing the frequent price fluctuation as well as the slow transportation.
In the meantime, prices of HRC ad steel plate kept going up in other countries during the month. The demand from downstream industries recovered gradually. Besides, the reduced supply caused by the conflict between Russia and Ukraine stimulated overseas producers to move up prices. However, more and more end users showed resistance to the rising prices late this month.
Generally speaking, the domestic HRC and steel plate market ran slowly during the month dragged by the new wave of pandemic, though it was the traditional peak season. Encouraged by the rising price of raw materials, both steel mills and traders remained eager to raise prices. Leading producers such as Baowu Group, HBIS, Shougang Group and Ansteel all lifted HRC EXW prices for April production by RMB300-400/t (USD47-63/t) during the month. Besides, the market inventory kept low. However, the demand from downstream industries was soft. On the one hand, the operation of downstream plants slowed down restricted by the strict control under the pandemic, while on the other hand, end users kept cautious about purchasing seeing the frequent price fluctuation as well as the slow transportation.
In the meantime, prices of HRC ad steel plate kept going up in other countries during the month. The demand from downstream industries recovered gradually. Besides, the reduced supply caused by the conflict between Russia and Ukraine stimulated overseas producers to move up prices. However, more and more end users showed resistance to the rising prices late this month.
