China’s HRC output down slightly in Oct from Sept, shows faster growth y-o-y

Wednesday, 18 November 2020 15:32:36 (GMT+3)   |   Shanghai
       

In October this year, China’s hot rolled coil (HRC) production amounted to 14.992 million mt, up 22.8 percent year on year, which was 6.4 percentage points faster than the increase rate in September. But the production showed a three percent decline in October compared to the previous month amid planned maintenance works and production restrictions.

Average local HRC prices in China increased by around 1.6 percent during the month in question amid increasing HRC futures prices supported by decent demand from downstream users, according to the SteelOrbis data. This rising trend has continued in November as market players have felt bullish regarding the future prospects for the market.

In the January-October period of this year, China’s HRC production rose by 11 percent year on year to 141.087 million mt. The increase was faster than the 9.7 percent growth in the first nine months of the year.

Cold rolled coil (CRC) output in China in October reached 3.481 million mt, up by 6.5 percent year on year, which was 4.4 percentage points faster than the growth recorded in September. Moreover, the output of CRC was 4.4 percent higher than in September.

CRC production rose by 1.7 percent year on year to 30.753 million mt in the January-October period of the current year.


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