SteelOrbis Shanghai
Jiangsu province based
Shagang announced on Wednesday, March 1, its March ex-factory prices of HR products.
Based on February prices,
Shagang raised HR coil price by RMB 540/mt, excluding taxes. After the adjustment, the price of 4.0 mm and thicker HR coil with a width of 1500 mm reached RMB 3,550/mt, RMB 150/mt above the market prices.
Sources report that
Shagang's rolling machine would not be able to operate due to the power cut between March 4 and 6.
Shagang decided to carry out overhaul check-up works on one of its heating furnaces in this period. About 40,000 metric tons of output will be influenced by the check-up as well as the power cut.
Shagang produces 250,000 metric tons of hot rolled coils per month, and mainly sells to eastern and southern markets.
Affected by
Shagang's price hike, market prices in Shanghai and Lecong have slightly increased.