Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for February this year. Accordingly, the company has kept its offer prices for Q235 5.5 mm x 1,500 mm HRC stable at RMB 4,000/mt ($580.7/mt) ex-works.
In January, the producer had raised its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 180/mt ($26/mt). The HRC market in China will be negatively affected by the outbreak of the coronavirus and is unlikely see a rebounding trend in the post-holiday period, contrary to the pre-holiday expectations. Accordingly, the producer has decided to hold its quotations stable for February.
$1 = RMB 6.888
