Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for January this year.
Accordingly, the company has kept its offer prices for Q235 5.5 mm x 1,500 mm HRC stable for January at RMB 4,950/mt ($777/mt) ex-works.
In December, the producer had decreased its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 1,000/mt ($157/mt) to RMB 4,950/mt ex-works.
HRC futures prices at Shanghai Futures Exchange declined by RMB 92/mt ($14.4/mt) or 2.04 percent in the month of December.
As for January, demand for HRC will remain slack amid the cold winter season and the approach of the Chinese New Year holiday, which will negatively affect HRC prices in the spot market.
