September 2019 | Steel Forecaster
Rising inventories and slowing demand weigh on Chinese prices: International Flat Product Market Analysis
Latest data points to a further slowdown of end-user demand in China.
Chinese HRC prices tumbled last week, reversing the early-September trend, with Eastern China HRC falling by 110 yuan ($17) per tonne during the week. The HRC export index, after remaining stable near $460 per tonne since September 11, dropped to $453 per tonne on Friday September 20. A failure to maintain the price level is hitting mills margins as the 62% Fe iron ore fines index climbed over $90 per tonne again in September. As a result, a recovery in HRC margins that started in August lasted only four weeks and was modest in scale. According to our...
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