Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for February this year.
Accordingly, the company has raised 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.
In January, the producer had increased its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 200/mt to RMB 4,250/mt ex-works.
HRC futures prices at Shanghai Futures Exchange moved up by RMB 55/mt ($8.1/mt) or 1.3 percent from January 3 to 31.
As for February, the demand for HRC will improve amid better expectations for the HRC market and the stimulus policy issued to boost the real estate industry. HRC prices in the Chinese domestic market will likely edge up in February.