Jiangsu Province-based Shagang Group, China’s largest private steelmaker, has issued its list prices for hot rolled coil (HRC) for September this year.
Accordingly, the company has kept its offer prices for Q235 5.5 mm x 1,500 mm HRC stable at RMB 6,250/mt ($966.3/mt) ex-works.
In August, the producer had raised its HRC prices by RMB 400/mt ($62/mt).
HRC futures prices at Shanghai Futures Exchange declined by RMB 605/mt ($93.5/mt) or 9.8 percent from July 30 to August 31.
As for September, demand for HRC will improve in the traditional peak season, while iron ore prices are also expected to bottom up, and so HRC prices are not expected to indicate further sharp decreases.
$1 = RMB 6.468
