Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for December this year.
Accordingly, the company has kept its offer prices for Q235 5.5 mm x 1,500 mm HRC stable at RMB 4,050/mt ($569/mt) ex-works.
In November, the producer had cut its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 150/mt ($21/mt) to RMB 4,050/mt ex-works.
HRC futures prices at Shanghai Futures Exchange have moved up by RMB 309/mt ($43.4/mt) or 8.7 percent from November 1 to 30.
As for December, demand for HRC will slacken amid the cold weather during winter and the spread of the Covid-19 pandemic in many regions of China.
