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WEEKLY: China’s HRC price hovers high on steady demand

ABSTRACT

China’s prices of hot-rolled coil have been hovering high since last week thanks to steady demand from end-users, with Mysteel’s assessment for Q235 4.75mm HRC reaching Yuan 5,593/tonne ($854/t) including the 13% VAT as of April 9, up Yuan 87/t on week.
However, the price last Friday was Yuan 51/t lower compared with the record high touched on April 7, as sentiment in the domestic market had softened somewhat after market players experienced difficultiesclosing deals at higher prices, Mysteel Global noted. “High-priced products are hard to be accepted by end-users, though their consumption (of flat steel) remained firm with

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