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Shanghai HRC prices ease
이름 : SBB 등록일 : 2017-04-25 15:05:51
Spot prices of hot rolled coil in Shanghai's dealer market decreased Monday. Platts assessed Q235 5.5mm HRC in Shanghai at Yuan 2,940-2,960/mt ($427-430/mt) ex-stock with 17% VAT, implying a midpoint of Yuan 2,950/mt, down Yuan 20/mt from last Friday. 

On the Shanghai Futures Exchange, the most active contract – that for October delivery – closed at Yuan 2,956/mt, down Yuan 5/mt day on day,

A weaker futures market in the morning Monday led dealers to trim their offers a little to get more bookings, but by afternoon when the SHFE contract rebounded, HRC spot prices enjoyed an uptick as well, industry watchers said. But the rally was not strong enough to bring dealer prices into positive territory, however.

“Downstream users such as re-rollers and coil-coaters were trying to buy some commercial grade coils in the morning because they thought the spot prices would be stable,” a Shanghai-based trader said. “But market inventories are still very high and market players are overlooking the fact that more HRC is being pushed to market, undermining prices.”

Another Shanghai-based trader said that currently he was very bearish on spot prices in the short term. “Our company’s HRC stocks for now are very low so we can avoid unexpected risks.”