In the January-May period this year, China’s hot rolled coil (HRC) production amounted to 83.427 million mt, up 8.4 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 14.572 million mt, down 4.9 percent year on year.
In May alone, China’s hot rolled coil (HRC) production and cold rolled coil (CRC) production totaled 17.878 million mt and 3.38 million mt, up 5.6 percent and 0.4 percent year on year, while decreasing by 2.04 percent and increasing by 6.52 percent month on month, respectively.
HRC prices in the Chinese domestic market indicated a declining trend in May amid the decreasing trend of HRC futures prices, with the highest level in May of RMB 4,050/mt ($569/mt) seen during May 1-3, and the lowest level in the month of RMB 3,750/mt ($527/mt) seen on May 31. In June, HRC prices in the Chinese domestic market have increased against the backdrop of production cuts in major steelmaking cities in Hebei province, Tangshan and Qinghuangdao, which have bolstered market sentiments.