Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil for June this year.
Accordingly, the company has raised its offer prices for 5.75 mm x 1,500 mm Q235B HRC by RMB 100/mt ($15/mt) to RMB 3,700/mt ($542.5/mt) ex-works, for delivery in June.
Previously, the producer had kept its offer prices for 5.75 mm x 1,500 mm Q235B HRC stable at RMB 3,600/mt ($502/mt) ex-works, for delivery in May.
Prices of raw materials, including coke and iron ore, have been at relatively high levels, bolstering HRC prices to a certain degree. Meanwhile, some steelmakers plan to implement maintenance works in June, resulting in expectations of tight supply of HRC and positive expectations for the future trend of the market. Moreover, demand for HRC has been better than demand for longs, also providing support for HRC prices.
