Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for all hot rolled coil (HRC) for October.
Accordingly, the company has kept its offer prices for Q235 5.5 mm x 1,500 mm HRC stable at RMB 4,400/mt ($620/mt) ex-works. All prices are on ex-works basis.
HRC futures prices at Shanghai Futures Exchange moved up by RMB 114/mt ($16/mt) or 3.1 percent during September.
As for October, market players think local HRC prices may fluctuate within a limited range as the impact of repeated outbreaks of the Covid-19 pandemic will persist, though after the holiday some rebound in HRC prices is anticipated by market sources.