Monthly CRC and HGI Coil Market Report Jul 2022
2022-08-09 08:20:41 【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
As market participants lost confidence in coming days, CRC and HGI coil prices in major Chinese regions dropped by RMB500-700/t (USD74-104/t) in July. Downstream customers purchased with minimum volume to avoid losses and traders had no choices but to cut prices. However, the market ran very stagnantly under the situation. Steel mills faced reduced orders and burdened deficit, less active in production. Following the sharp downward trend in domestic market, CRC and HGI coil export prices continued on a deep decline this month.
In the international market, CRC prices in Malaysia, Vietnam and India as well as HGI coil prices in India all continued to edge down this month due to weak demand from downstream industries and lower prices for raw materials.
As market participants lost confidence in coming days, CRC and HGI coil prices in major Chinese regions dropped by RMB500-700/t (USD74-104/t) in July. Downstream customers purchased with minimum volume to avoid losses and traders had no choices but to cut prices. However, the market ran very stagnantly under the situation. Steel mills faced reduced orders and burdened deficit, less active in production. Following the sharp downward trend in domestic market, CRC and HGI coil export prices continued on a deep decline this month.
In the international market, CRC prices in Malaysia, Vietnam and India as well as HGI coil prices in India all continued to edge down this month due to weak demand from downstream industries and lower prices for raw materials.
