SteelHome predicts that HRC and CRC market prices will increase amid fluctuation next week.

01 March 2021
SteelHome predicts that HRC and CRC market prices will increase amid fluctuation next week.
          China’s HRC market price surged during the week ended February 26, 2021. By February 26 (Friday), the average price of 2.75mm Q235 HRC in 28 Chinese markets came to 4,981 yuan/t, up 159 yuan/t from the previous week; 5.75mm Q235 HRC was 4,874 yuan/t, up 158 yuan/t respectively from the previous week.
          SteelHome learned that trading volume in this week gradually rose, and market participants were bullish on the market development. After Chinese New Year holiday, HRC prices cumulatively increased by around 350 yuan/t.
          China’s CRC market price continued to go up during the week ended February 26, 2021. By February 26 (Friday), the average price of 0.5mm CRC and 1.0mm SPCC CRC in 28 major Chinese steel markets in the week were 5,971 yuan/t and 5,766 yuan/t, up 120 yuan/t and 113 yuan/t respectively from the previous week.
          SteelHome learned that CRC inventory increased by 130,000 tons while mill inventory was basically flat, reflecting mill inventory was at a normal level. Downstream procurement demand will continue to recover next week.
          SteelHome predicts that HRC and CRC market price will increase next week.

---- SteelHome
 
 

Source : Steel Business Briefing

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