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WEEKLY: China’s HRC price soars to 14-month high

The price of Q235 4.75mm hot-rolled coil (HRC) in China gained another Yuan 74/tonne ($10.6/t) on week to top Yuan 3,992/t including the 13% VAT as of August 7, a new high since May 28 2019, according to Mysteel’s assessment. Were it not for a rise in production the price might even have climbed moderately higher, Mysteel Global noted.
Hot coil production among 37 surveyed flat steelmakers nationwide moved up by 81,800 tonnes or 2.5% on week to reach 3.35 million tonnes over July 30-August 5. In parallel, the rolling capacity utilization rate among those mills also gained 2.09 percentage points on week to average 85.5% over the same

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