Due to the rapid changes in the Chinese HRC market, local steelmaker Laiwu Steel has twice raised its ex-works price for HRC in the first five days of the New Year.
On January 1, Laiwu Steel raised its HRC ex-works prices by RMB 100/mt ($15/mt), with its ex-works price for 5.5 mm x 1,250 mm x C material increasing to RMB 3,800/mt ($557/mt).
However, only four days after the above announcement, Laiwu Steel raised its HRC price by a further RMB 50/mt ($7/mt) on January 5, with the ex-works price for 5.5 mm x 1,250 mm x C consequently increasing to RMB 3,850/mt ($565/mt). Meanwhile, also on January 5 and for the same specification, the price of low alloy material increased by RMB 150/mt ($22/mt), the chequered coil price rose by RMB 130/mt ($19/mt), and the price of SPHC coil increased by RMB 150/mt ($22/mt).
All prices include 17 percent VAT.