Monthly HRC and Steel Plate Market Report May 2023
2023-06-09 09:31:52 【Print】
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1. Market Highlights
The domestic HRC and steel plate market continued running slowly during the month. The demand from downstream industries remained insufficient, and end users kept inactive in purchasing dragged by the shrinking orders for final products as well as the downward price trend. Both steel mills and traders faced sales pressure. To promote sales, leading producers such as Baowu Group, Ansteel, Bengang Steel and Shougang Seel moved down EXW prices of HRC by RMB200-300/t (USD28-42/t) for June production. In the meantime, the continuous price declines of raw materials together with the financial risk overseas weakened the confidence of market participants to some extent. Meanwhile, mainstream steel mills maintained normal production, and the supply remained steady.
In the meantime, the international HRC and steel plate market performance showed no signs of recovering during the month, and prices went down in most countries.
The domestic HRC and steel plate market continued running slowly during the month. The demand from downstream industries remained insufficient, and end users kept inactive in purchasing dragged by the shrinking orders for final products as well as the downward price trend. Both steel mills and traders faced sales pressure. To promote sales, leading producers such as Baowu Group, Ansteel, Bengang Steel and Shougang Seel moved down EXW prices of HRC by RMB200-300/t (USD28-42/t) for June production. In the meantime, the continuous price declines of raw materials together with the financial risk overseas weakened the confidence of market participants to some extent. Meanwhile, mainstream steel mills maintained normal production, and the supply remained steady.
In the meantime, the international HRC and steel plate market performance showed no signs of recovering during the month, and prices went down in most countries.
