Monthly CRC and HGI Coil Market Report Jun 2022
2022-07-07 13:36:58 【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
The demand from downstream industries failed to pick up as expected, so traders and steel mills lost confidence, reducing stocks actively by cutting price sharply. CRC and HGI coil prices in major Chinese regions dropped by RMB400-500/t (USD60-75/t) in June. Stocks in major regions kept standing high but steel mills did not reduce production obviously. Following the sharp downward trend in domestic market, CRC and HGI coil export prices continued to fall this month.
In the international market, CRC prices in Malaysia, Vietnam and India as well as HGI coil prices in India all continued on the decline this month due to weak demand from downstream industries and lower prices for raw materials.
The demand from downstream industries failed to pick up as expected, so traders and steel mills lost confidence, reducing stocks actively by cutting price sharply. CRC and HGI coil prices in major Chinese regions dropped by RMB400-500/t (USD60-75/t) in June. Stocks in major regions kept standing high but steel mills did not reduce production obviously. Following the sharp downward trend in domestic market, CRC and HGI coil export prices continued to fall this month.
In the international market, CRC prices in Malaysia, Vietnam and India as well as HGI coil prices in India all continued on the decline this month due to weak demand from downstream industries and lower prices for raw materials.
