Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for April this year.
Accordingly, the company has raised its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 400/mt ($63/mt) to RMB 5,600/mt ($882/mt) ex-works.
In March, the producer had raised its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 100/mt ($15.9/mt) to RMB 5,200/mt ($825.4/mt) ex-works.
HRC futures prices at Shanghai Futures Exchange increased by RMB 139/mt ($22/mt) or 2.74 percent from March 1 to 31.
As for April, demand for HRC will improve to some extent during the traditional peak season, though it may be negatively affected by Covid-19 restriction measures in many regions of China.
$1 = RMB 6.3509
