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 increased its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 150/mt ($23.6/mt) to RMB 5,100/mt ($803/mt) ex-works.
In January, the producer had kept its offer prices for Q235 5.5 mm x 1,500 mm HRC stable at RMB 4,950/mt ex-works.
HRC futures prices at Shanghai Futures Exchange rose by RMB 446/mt ($70.2/mt) or 9.9 percent in the period from January 4 to January 28.
As for February, demand for HRC will likely improve following the long Chinese New Year holiday, which will bolster prices.
