Monthly HRC and Steel Plate Market Report Jun 2022
2022-07-05 12:11:59 【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 went through the up-down trend in major domestic markets during the month. They went up in the first two weeks of the month as the lockdown lift in Shanghai strengthened market participants' confidence, together with the price rebound of raw materials, encouraging steel mills and traders to raise prices. Prices began falling back in the third week, and drooped quickly late the week, with the markdown of around RMB400/t (USD60/t) within two days. Leading producers such as Baowu Group, HBIS, Ansteel and Shougang Group maintained EXW prices for July production flat seeing the high production cost but the unsatisfactory sales performance. Reporting poor sales performance, traders showed little confidence in the market prospect and worried about a price drop. The demand from downstream industries remained sluggish and showed no signs of recovering under the gloomy economy. Besides, end users remained cautious about purchasing seeing the insufficient orders as well as the frequent price change.
In the meantime, prices of HRC and steel plate kept decreasing in other countries during the month. The weak demand weakened participants' confidence. Reporting heavy production cost pressures, overseas steel mills remained reluctant to cut prices further late this month.
Prices of HRC and steel plate went through the up-down trend in major domestic markets during the month. They went up in the first two weeks of the month as the lockdown lift in Shanghai strengthened market participants' confidence, together with the price rebound of raw materials, encouraging steel mills and traders to raise prices. Prices began falling back in the third week, and drooped quickly late the week, with the markdown of around RMB400/t (USD60/t) within two days. Leading producers such as Baowu Group, HBIS, Ansteel and Shougang Group maintained EXW prices for July production flat seeing the high production cost but the unsatisfactory sales performance. Reporting poor sales performance, traders showed little confidence in the market prospect and worried about a price drop. The demand from downstream industries remained sluggish and showed no signs of recovering under the gloomy economy. Besides, end users remained cautious about purchasing seeing the insufficient orders as well as the frequent price change.
In the meantime, prices of HRC and steel plate kept decreasing in other countries during the month. The weak demand weakened participants' confidence. Reporting heavy production cost pressures, overseas steel mills remained reluctant to cut prices further late this month.
