Monthly HRC and Steel Plate Market Report Oct 2022
2022-11-08 13:57:34 【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 failed to keep recovering this month. Rising cases in most regions after the National Day holiday and the Zero-Covid policy from the government weakened market participants' confidence to a large extent. Both steel mills and traders reported losses and adopted pessimistic attitudes towards the market prospect. More and more small mills cut production dragged by the losses, while large mills maintained normal production. Prices of raw materials dropped quickly late this month, and the cost support weakened further. The demand from downstream industries remained steady, but end users kept cautious about purchasing seeing the downward price trend.
In the meantime, the HRC and steel plate market also ran slowly in most other countries. On the one hand, the demand from downstream industries remained insufficient, while on the other hand, end users kept inactive in purchasing seeing the decreasing prices in China.
The domestic HRC and steel plate market failed to keep recovering this month. Rising cases in most regions after the National Day holiday and the Zero-Covid policy from the government weakened market participants' confidence to a large extent. Both steel mills and traders reported losses and adopted pessimistic attitudes towards the market prospect. More and more small mills cut production dragged by the losses, while large mills maintained normal production. Prices of raw materials dropped quickly late this month, and the cost support weakened further. The demand from downstream industries remained steady, but end users kept cautious about purchasing seeing the downward price trend.
In the meantime, the HRC and steel plate market also ran slowly in most other countries. On the one hand, the demand from downstream industries remained insufficient, while on the other hand, end users kept inactive in purchasing seeing the decreasing prices in China.
