Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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March 2019 | Steel Forecaster


VAT rate change in China stimulates activity but market fundamentals remain slack: International Flat Product Market Analysis


Achieving higher sales prices was vital for Chinese mills after a rise in raw materials costs.

Chinese HRC prices have seen a seasonal rebound after the Lunar New Year, driven by purchasing activity. Eastern China HRC prices spiked by 65 yuan ($10) per tonne on Monday March 18, reaching 3,865 yuan ($576) per tonne, and stayed near that level for the rest of the week. After a build-up of inventories among suppliers (mills and resellers) at the start of the year, end-users activated their purchases in March. Data provided by Steelhome showed a reduction in combined inventories held at mills and warehouses across all flat steel products,...

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