Shagang Group raises local HRC prices by $7.8/mt for June

Wednesday, 02 June 2021 13:55:16 (GMT+3)   |   Shanghai

Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for June this year. Accordingly, the company has raised its offer prices for Q235 5.5 mm x 1,500 mm HRC by RMB 50/mt ($7.8/mt) to RMB 6,000/mt ($941/mt) ex-works.

In May, the producer had raised its offer prices for HRC by RMB 450/mt to RMB 5,950/mt ex-works.

HRC futures prices at Shanghai Futures Exchange moved down by RMB 334/mt ($34/mt) or 5.9 percent from April 30 to May 30 amid the bearish sentiment seen among market players since May 12.

As for June, demand for HRC will likely slacken amid the approaching rainy season in eastern and southern China. Accordingly, prices in the local market will not have strong support.

$1 = RMB 6.3773

Similar articles

Higher costs force local Turkish HRC mills to raise their domestic offers

05 Oct | Flats and Slab

Ex-India HRC prices under pressure from lower bids, local market improves further

04 Oct | Flats and Slab

US HRC imports down 7.6 percent in August

03 Oct | Steel News

Local flats prices in Romania dragged down by weak demand

03 Oct | Flats and Slab

Local Indian HRC trade prices up after base price hikes, further rises expected

03 Oct | Flats and Slab

Indian mills start hiking flat product base prices for October

03 Oct | Flats and Slab

US HRC, CRC “mostly stable” week-over-week

30 Sep | Flats and Slab

Global View on HRC: Large discounts from many suppliers trigger negative mood

30 Sep | Flats and Slab

Chinese domestic PPGI prices soften slightly

30 Sep | Flats and Slab

Import HRC prices recover slightly in Pakistan, but deals sporadic amid slow demand

30 Sep | Flats and Slab