MONTHLY: China's HRC prices to see moderate growth in Sept

China’s prices for carbon steel hot-rolled coil (HRC) are projected to maintain their upward momentum through the first half of September before coming under pressure in the latter half as a slow recovery in downstream demand may fail short of market expectations, Mysteel’s monthly report on the commodity suggests.

In late August, domestic hot coil prices experienced a swift rally thanks to firmer cost-side support, reduced supply, and growing market expectations for steel demand recovery during the upcoming peak season in September and October. By the end of August, Mysteel assessed the national spot price of Q235B 4.75mm HRC at Yuan 3,387/tonne ($504/t) including the 13% VAT, higher by Yuan 114/t or 3.5% from end-July. Entering September, the still-elevated