Research

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

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February 2020 | Steel Forecaster


Chinese mills turn to exports amid poor demand at home: International Flat Product Market Analysis


Measures to contain the spread of the coronavirus meant that domestic demand remained muted, leading to a build-up of stocks.

Chinese domestic and export HRC prices stabilized at new lower levels after finding a floor in mid-February. HRC prices in Eastern China dropped from 3,870 yuan ($558) per tonne at the end of January to 3,470 yuan ($497) per tonne on February 14. The export HRC index fell from $496 per tonne on January 23 to $449 by February 19. However, with supply disruptions in Brazil and Australia, iron ore prices have been moving up, squeezing mills’ margins. According to our estimates, in the second week of February...

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