Monthly HRC and Steel Plate Market Report May 2022
2022-06-07 09:36:23 【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 witnessed the decline of around RMB200/t (USD30/t) in major Chinese domestic markets during the month. The decreasing prices of raw materials such as iron ore and steel billet weakened the cost support for finished steel. Dragged by the poor sales performance, both steel mills and traders cut prices in succession. Leading steel mills such as Baowu Group, HBIS, Ansteel and Shougang Group moved down HRC EXW prices for June production by RMB100-300/t (USD15-45/t) during the month. The demand from downstream industries remained insufficient, and end users kept cautious about purchasing seeing the frequent price change. Besides, the pandemic control weakened downstream customers' purchasing activities to some extent.
In the meantime, prices of HRC and steel plate went down continuously in foreign countries during the month. The decreasing prices in China heightened overseas market participants' confidence to some extent. Besides, the demand remained soft.
Prices of HRC and steel plate witnessed the decline of around RMB200/t (USD30/t) in major Chinese domestic markets during the month. The decreasing prices of raw materials such as iron ore and steel billet weakened the cost support for finished steel. Dragged by the poor sales performance, both steel mills and traders cut prices in succession. Leading steel mills such as Baowu Group, HBIS, Ansteel and Shougang Group moved down HRC EXW prices for June production by RMB100-300/t (USD15-45/t) during the month. The demand from downstream industries remained insufficient, and end users kept cautious about purchasing seeing the frequent price change. Besides, the pandemic control weakened downstream customers' purchasing activities to some extent.
In the meantime, prices of HRC and steel plate went down continuously in foreign countries during the month. The decreasing prices in China heightened overseas market participants' confidence to some extent. Besides, the demand remained soft.
