Chinese domestic HR strip market stagnant
2012-06-27 09:18:46 [Print]
BEIJING (Asian Metal) 27 Jun 12 – Affected by the insufficient demand from downstream customers, Chinese domestic HR strip market performs slowly at the moment and prices in major markets see the downward trend. Insiders predict HR strip market will remain inactive in the following several days.
North China: A sales manager of Nuohai Trading in Tangshan, Hebei Province reported that the price of HR strip Q195 (232-355)mm*2.5mm*C from Ruifeng Steel is RMB3,870/t (VAT included), stable compared with that of the last trading day.
The source reported that the list price of Q195 (232-355)mm*2.5mm*C from Ruifeng Steel stabilizes at RMB3,850/t at present. In addition, the price of steel billet Q235 150mm*150mm in Tangshan keeps unchanged at RMB3,590/t for the time being. As most customers are reluctant to make deals, the sales volume remains low at 200tpd against the target level of 500tpd. The source is pessimistic about the coming market but prefers to keep quotations unchanged and watch the market.
East China: A sales official of Jinze Trading in Wuxi informed that the price of HR strip Q195 (232-355)mm*2.5mm*C from Ruifeng Steel is RMB4,050/t (VAT included), falling by RMB10/t compared with that of the last trading day.
Seeing other local traders’ lower offers, the source also reduced the quotation to follow suit. However, he points out that downstream customers purchase inactively, for fear of a further price decrease. Currently, his sales volume is only 200tpd against the target level of 700tpd. Under such a situation, the source is unconfident of the forthcoming market and predicts that the price may further go down in the near future.
South China: A sales executive of Zhongyi Trading in Guangzhou, Guangdong Province reported that the price of Q195 (232-355)mm*2.5mm*C from Ruifeng Steel is RMB4,060/t (VAT included), falling by RMB30/t compared with that of the last trading day.
According to the source, the demand is very weak as downstream customers are reluctant to place orders. Consequently, he would like to lower his prices to attract customers. Currently, his sales volume is 400tpd against the target level of 700tpd. As for the coming market, he is not so confident and replenishes the inventory according to shortage of grades.
North China: A sales manager of Nuohai Trading in Tangshan, Hebei Province reported that the price of HR strip Q195 (232-355)mm*2.5mm*C from Ruifeng Steel is RMB3,870/t (VAT included), stable compared with that of the last trading day.
The source reported that the list price of Q195 (232-355)mm*2.5mm*C from Ruifeng Steel stabilizes at RMB3,850/t at present. In addition, the price of steel billet Q235 150mm*150mm in Tangshan keeps unchanged at RMB3,590/t for the time being. As most customers are reluctant to make deals, the sales volume remains low at 200tpd against the target level of 500tpd. The source is pessimistic about the coming market but prefers to keep quotations unchanged and watch the market.
East China: A sales official of Jinze Trading in Wuxi informed that the price of HR strip Q195 (232-355)mm*2.5mm*C from Ruifeng Steel is RMB4,050/t (VAT included), falling by RMB10/t compared with that of the last trading day.
Seeing other local traders’ lower offers, the source also reduced the quotation to follow suit. However, he points out that downstream customers purchase inactively, for fear of a further price decrease. Currently, his sales volume is only 200tpd against the target level of 700tpd. Under such a situation, the source is unconfident of the forthcoming market and predicts that the price may further go down in the near future.
South China: A sales executive of Zhongyi Trading in Guangzhou, Guangdong Province reported that the price of Q195 (232-355)mm*2.5mm*C from Ruifeng Steel is RMB4,060/t (VAT included), falling by RMB30/t compared with that of the last trading day.
According to the source, the demand is very weak as downstream customers are reluctant to place orders. Consequently, he would like to lower his prices to attract customers. Currently, his sales volume is 400tpd against the target level of 700tpd. As for the coming market, he is not so confident and replenishes the inventory according to shortage of grades.
