In the January-November period this year, China’s hot rolled coil (HRC) production amounted to 187.271 million mt, increasing by 12.9 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 35.797 million mt, up 4.8 percent year on year.
In November alone, China’s hot rolled coil (HRC) production and cold rolled coil (CRC) production totaled 15.819 million mt and 3.658 million mt, up 8.4 percent and 13 percent year on year, while decreasing by 7.73 percent and up 1.89 percent month on month, respectively.
HRC prices in the Chinese domestic market moved up first in November while indicating a downtrend by the end of the month, with the highest level in November at RMB 4,260/mt ($600/mt) seen on November 21, and the lowest level in the month observed on November 1 at RMB 4,030/mt ($568/mt). In the given month, several major Chinese steelmakers, including Baosteel, Anshan Iron and Steel and Benxi Iron and Steel, raised their local base prices for HRC for delivery in December by RMB 100-200/mt ($14-28/mt), bolstering market sentiments.