China's HRC prices keep going up in both domestic and external market
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Update time : 2021-05-18 19:31:07
Although the domestic price of HRC in China market had stood so strong recently, it seemed to be a lower price range when comparing with other countries. Even though the Chinese government had canceled export tax rebates, the exports of HRC still remained high.
In other words, as long as the price of overseas HRC continued to rise because of supply shortage, the domestic price in China would not be weakened.
After the labor day holiday in May, the domestic price of long products had largely increased, which thus affected the recent price of exported HRC. The quotations of the exported HRC were even slightly higher than those for Southeast Asia.
On the whole, this year, the policy of reduction in crude steel production, carbon reduction environmental policy, the loose monetary policy, and demand expectations due to the economic recovery had stimulated the upward trend of global steel prices, especially the price of HRC.
However, the higher prices had not put the demand down. The global demand was increasing and the market was generally optimistic about the situation this year, but it was still necessary to keep eye on it.
