The price of domestic hot-rolled coils in hot-rolled coils caused the recent rise of sheet metal and other related steel markets on Wednesday, August 25th. This happened at a time when industry data show an increase in production in mid-August. The general expectation was that prices would increase as production increased. But despite the recession in the markets, they are witnessing a relative and slow growth of prices in the market. He then monitored the Chinese domestic market in the field of hrc shopping. Please ask with Artan.
*** hot-rolled coils market in domestic market
East China (Shanghai) market shows that the price of hot-rolled coils was 5,690-5,720 yuan ($ 879-883) per ton. This product has had a price increase of 20 yuan per ton. This can be a very different move in the current stagnant market. The China Iron and Steel Association (Cisa) announced Tuesday morning that crude steel production from its member factories averaged 2.14 million tonnes in the second 10 days of August, up 4.6 percent from the previous 10-day period. .
*** Accept Shanghai Stock Exchange movements in hot rolled coil transactions
A direct analyst in Shanghai said, increasing rising expectations will affect market prices. This growth led to a further increase in the HRC contract trading on the Shanghai Stock Exchange, ending a three-day winning streak. The average loss in HRC futures was accompanied by a decline in iron ore futures. While coke coal reached its highest new record. These developments in the rolling mill were a little far from expected. A direct analyst in Guangdong said steel prices should be supported by anticipating hot-rolled coils a recovery in demand after the seasonal break and continued production constraints.
*** China hot rolled coil export indicators watch list
Calculation of export indices by the Fast Market analytical institute from the export index of hot-rolled coils, China’s main FOB port, shows that this product has increased by $ 907.5 per ton, which is $ 2.5 per ton compared to the previous factors. Liquidity of transactions in the export market is further weak. The proposal differs due to uncertainty in China’s export tax policy. Expensive trading offers were up to $ 900 per tonne FOB, while factory offers reached $ 1,000 per tonne.
*** Monitoring market experiences after outbreak of new Corona
The hot-rolled coils export market in China seems to be in a lot of trouble. Some export market investors have abandoned this nut. Beijing blocks steel exports. In addition, demand from the main market – Vietnam – has been stagnant due to the curfew. There are far fewer offers than other suppliers in the current situation. In the current situation, transportation challenges are another tragedy. Shipbrokers are still leaving Chinese ports due to a severe marriage of severe coronary control measures. Most of the January HRC deal closed at 5,569 yuan per tone on Thursday, down 35 yuan from Tuesday’s close.
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