HRC price stays strong in US due to mills' support
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Author : Kelly
Update time : 2020-05-11 14:05:37
According to the news this week, the domestic hot-rolled coil (HRC) had continued rising in the US as the steel mills insisted not to lower the price for stabilizing the market.
Market participants believed that the result was successful as the steel mills were paying a lot of effort to keep the price level of HRC. However, some of the buyers considered that the price range now was not acceptable, they thought it was too high and some buyers were willing to buy only for the urgent needs.
However, there were some other different opinions. Some market participants considered that the scrap price was expected to be recovered in May as well as the large-quantities-cut reduction plan by the steel mills, those might help the HRC price to rise for a longer period.
Even some US dealers pointed out that under the resumption of production by car manufacturers in the US market, some buyers were starting to worry about the shortage of supply in the coming future.
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