China’s HRC output indicates slower y-o-y growth in Nov, down from Oct

Monday, 21 December 2020 12:32:43 (GMT+3)   |   Shanghai
       

In November this year, China’s hot rolled coil (HRC) production amounted to 14.017 million mt, up 16.6 percent year on year, which was 6.2 percentage points slower than the year-on-year increase rate in October. Moreover, the figure was 6.5 percent below the October output, reflecting the impact of continued restrictions and maintenance works, despite stronger market prices.

Average local HRC prices in China increased by around 6.53 percent during the month in question amid increasing HRC futures prices and surging iron ore prices, according to the SteelOrbis data. And this rising trend has continued in December as iron ore prices surged and ferrous metal futures prices moved up further.

In the January-November period of this year, China’s HRC production rose by 11.1 percent year on year to 154.59 million mt. 

Cold rolled coil (CRC) output in China in November reached 3.645 million mt, up by 7.0 percent year on year, which was 0.5 percentage points faster than the increase recorded in October. CRC production rose by 2.4 percent year on year to 34.504 million mt in the January-November period of the current year.


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