China’s domestic price of Q235 4.75mm hot-rolled coil (HRC) under Mysteel’s assessment declined for the second week over September 17-24. The price edged down by Yuan 22/tonne ($3.4/t) on week to Yuan 5,777/t including the 13% VAT as of September 24, as demand from end-users remained sluggish due to power rationing, market sources said.
HRC spot sales prices fluctuated in a small range last week, as the limited output from mills failed to compensate for the sluggish demand from end-users, a Shanghai-based source said.
Production among some hot coil users has slowed because of power rationing, so the demand for HRC has been softening. Some