In the January-October period this year, China’s hot rolled coil (HRC) production amounted to 172.696 million mt, increasing by 13.2 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the same period, China’s cold rolled coil (CRC) production totaled 32.275 million mt, up 4.1 percent year on year.
In October alone, China’s hot rolled coil production and cold rolled coil production totaled 17.145 million mt and 3.59 million mt, up 14.1 percent and 9.4 percent year on year, while decreasing by 3.52 percent and 2.31 percent month on month, respectively.
HRC prices in the Chinese domestic market moved down first in October, while moving up later, with the highest level in October at RMB 4,005/mt ($558/mt) seen on October 30-31, and the lowest level in the month observed on October 12 at RMB 3,895/mt ($543/mt). HRC prices in the Chinese domestic market continued their rising trend in November due to China’s issuance of additional special bonds worth RMB 1 trillion for 2023 in the October-December period and due to the continuous increases in import iron ore prices.