In the January-August period this year, China’s hot rolled coil (HRC) production amounted to 135.752 million mt, up 12 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 24.837 million mt, up 1.9 percent year on year.
In August alone, China’s hot rolled coil (HRC) production and cold rolled coil (CRC) production totaled 18.012 million mt and 3.513 million mt, up 33.2 percent and 20.5 percent year on year, while increasing by 3.42 percent and 1.47 percent month on month, respectively.
HRC prices in the Chinese domestic market moved down first in August, though they indicated a rebounding trend later, with the highest level in August at RMB 4,150/mt ($579/mt) seen on August 1, and the lowest level in the month observed on August 29 at RMB 3,995/mt ($556/mt). In late August, China issued several stimulus policies to boost the real estate sector, positively affecting market sentiment and bolstering steel prices. However, demand for HRC was slack during the traditional offseason, exerting a negative impact on prices.