In the January-March period this year, China’s hot rolled coil (HRC) production amounted to 52.91 million mt, decreasing by 8.0 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 12.326 million mt, up 4.1 percent year on year.
In March alone, China’s hot rolled coil (HRC) and cold rolled coil (CRC) outputs came to 18.851 million mt and 4.824 million mt, down 6.9 percent and up 3.3 percent year on year, respectively.
HRC prices in the Chinese domestic market fluctuated within a limited range in the January-February period, while they edged down in early March, before rebounding later in March due to improved demand following the Chinese New Year holiday. HRC prices reached a peak at RMB 3,390/mt ($494/mt) on March 24-26 and March 31, with the lowest level during the first quarter seen at RMB 3,300/mt ($481/mt) on February 25, according to SteelOrbis’ data.