Monthly HRC and Steel Plate Market Report Jul 2022
2022-08-05 13:35:23 【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
The domestic HRC and steel plate market continued running slowly during the month, and prices went through the down-up trend. Prices decreased continuously in the first three weeks of the month, but rebounded late this month. Facing losses and sales pressure, lots of steel mills reduced production early this month, and the market inventory reduced late this month, together with the price rebound of iron ore, stimulating traders to lift prices. The demand from downstream industries remained insufficient, and end users kept cautious about purchasing dragged by the shrinking orders for final products as well as the frequent price fluctuation. In the meantime, the poor export market performance heightened domestic sales pressure. Leading producers such as Baowu Group, Ansteel, Shougang Steel and HBIS announced the decision to move down steel EXW prices by RMB200-400/t (USD30-60/t) for August production.
Meanwhile, prices of HRC and steel plate kept going down in other countries during the month. The demand from downstream industries remained soft. The unpromising market in China and the worry about recession weakened overseas participants' confidence to some extent.
The domestic HRC and steel plate market continued running slowly during the month, and prices went through the down-up trend. Prices decreased continuously in the first three weeks of the month, but rebounded late this month. Facing losses and sales pressure, lots of steel mills reduced production early this month, and the market inventory reduced late this month, together with the price rebound of iron ore, stimulating traders to lift prices. The demand from downstream industries remained insufficient, and end users kept cautious about purchasing dragged by the shrinking orders for final products as well as the frequent price fluctuation. In the meantime, the poor export market performance heightened domestic sales pressure. Leading producers such as Baowu Group, Ansteel, Shougang Steel and HBIS announced the decision to move down steel EXW prices by RMB200-400/t (USD30-60/t) for August production.
Meanwhile, prices of HRC and steel plate kept going down in other countries during the month. The demand from downstream industries remained soft. The unpromising market in China and the worry about recession weakened overseas participants' confidence to some extent.
