Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for July this year.
Accordingly, the company has lowered its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 150/mt ($23/mt) to RMB 5,850/mt ($904/mt) ex-works.
In June, the producer had raised its offer prices for HRC by RMB 50/mt to RMB 6,000/mt ex-works.
HRC futures prices at Shanghai Futures Exchange have moved up by RMB 74/mt ($11.4/mt) or 1.38 percent from May 31 to June 30.
In July, demand for HRC in China will be sluggish amid the traditional off-season and hot weather. It is thought that HRC prices in July may fluctuate within a limited range but at a lower level.
$1 = RMB 6.4712
