Spot Market Chinese steel prices

Manufacturers such as Ma'anshan Iron & Steel (Magang), Taiyuan Iron & Steel (Taigang) and Shougang also simultaneously raise the price of flat steel products for the month to 01 years, this is the reason leading to the increase prices for hot rolled steel and cold rolled in the spot market such as Shanghai and Guangdong in the week.

Accordingly, Magang has raised prices HRC and CRC respectively 200 yuan per ton (30 tonne) and 100 yuan per ton, while Shougang raise the price of two products, respectively 190 yuan per ton and 150 yuan per ton, while Taigang raise the price of carbon HRC 150 yuan per ton.

In Shanghai and Lecong (Guangdong), HRC prices for immediate delivery yesterday rose 21/12 30 yuan per tonne and pulling up the same CRC value. In particular, 1.0mm CRC is offering in Shanghai at 5350-5400 yuan per ton (U.S. $ 803-811 per ton) and is in Lecong 5380-5450 yuan / ton, both inclusive of VAT and 17% with increased by 70 yuan per ton from the previous week. About CRC trader said demand from consumers directly has improved since last month.

CRC on the stock market began to decrease from the previous month. According to a report from the China Iron and Steel Association (CISA), CRC in stock in 26 major Chinese cities last November was down 3% compared to March 10.