Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for March this year.
Accordingly, the company has raised its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 100/mt ($14.4/mt) to RMB 4,600/mt ($663/mt) ex-works.
In January, the producer had increased its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 250/mt ($37/mt) to RMB 4,500/mt ($667/mt) ex-works.
HRC futures prices at Shanghai Futures Exchange have edged down by RMB 47/mt ($6.8/mt) or 1.1 percent from February 21 to 28.
As for March, the demand for HRC will likely improve further amid good weather conditions and policies to stimulate the real estate industry. It is thought that HRC prices in the Chinese domestic market will continue their uptrend in March.
