MONTHLY: China's HRC prices seen staying afloat in April

Buoyed by a gradual pick up in downstream demand and firm support from raw material prices, China’s hot-rolled coil (HRC) prices experienced a certain rally in March. Entering April, steady production and continuous consumption recovery will gradually form a weak equilibrium in HRC supply-demand fundamentals, keeping the flat steel prices at elevated levels, according to Mysteel's latest monthly report on the commodity.

By April 10, Mysteel assessed China's national price of Q235 4.75mm HRC at Yuan 3,312/t ($485/t), up by Yuan 29/t or 0.88% from the same day of March. On the supply side, HRC output is expected to continue climbing this month, in line with rising hot metal output nationwide, given the fact that steelmakers can still