MYSTEEL: China HRC prices to decline in 2023

Prices of carbon-steel hot-rolled coil (HRC) in China will lose some ground in 2023, as the supply from mills will exceed demand from end-users, according to Mysteel's newly published forecast for the product.

The average price of Q235 4.75mm HRC during 2022 was assessed by Mysteel at Yuan 4,496/tonne ($661.2/t) including the 13% VAT. This year, the average will likely decline, moving in the range of Yuan 3,500-4,500/t including the 13% VAT and following an N-shape or M-shape trajectory, the report said. During this year, Chinese