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Weekly Report of China Steel Market for March 20-27, 2020

  • China China  
  • Last Updated:
    Posted on: 18 Jul 2020

  • Buying Frequency: Weekly
  • Payment Terms: T/T

RFQ Details

Chinaâs steel market price declined amid stability during the week ended March 27, 2020. SteelHome China Steel Price Index (SHCNSI) closed at 88.25 points (3,817 yuan) on March 27, down 1.03% from the previous week.
Overview

At present, domestic steel market faced pressure. Firstly, the supply of steel products kept increasing. Blast furnace and electric furnace operating rate continued to rise and operating rate of main products was at a high level. Secondly, the inventory consumption tended to slow down. In last week, though moderately decrease, steel inventory was difficult to recover to the normal level in short term. Besides, the export of steel products was poor. It was learned that new orders decreased as more countries locked down the cities to prevent the spread of COVID-19. Fortunately, production resumption of domestic enterprises speeded up and special bonds have been issued, which was beneficial for the steel demand.

SteelHome expects that Chinaâs steel market price will probably continue to fluctuate.

HR/CR Plate/Coil

HRC

Chinaâs HRC market price decreased amid stability during the week ended March 27, 2020.

By March 27 (Friday), the average price of 2.75mm Q235 HRC in 28 Chinese markets came to 3,589 yuan/t, down 46 yuan/t from the previous week; 5.75mm Q235 HRC was 3,490 yuan/t, down 47 yuan/t from the previous week.

According to SteelHome survey, Chinaâs HRC inventory in major markets totaled 4.24 million tons, down 90,000 tons from last survey and steel mills inventory attained 1.28 million tons, down 150,000 tons from last week. Recently, HRC trading volume kept rising, yet the inventory moderately declined due to the HRC production line operating rate was at a high level.

SteelHome predicts that HRC market price will fluctuate next week.

more details, please subscribe SteelHome website.


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