More upside for Asian HRC on recovering demand - major Japanese mill

Asian hot-rolled coil prices are likely to continue recovering on demand increasing again after more countries remove their Covid-19-related restrictions, a major Japanese steelmaker said.

"Demand is now recovering in many countries in Asia, such as China and some parts of Southeast Asia, so this is supporting prices," a source close to the Japanese steelmaker said this week.
This is especially true in China, where the domestic economy has been improving steadily from March, evident in its figures for crude steel production.

China's crude steel production grew to 92 million tonnes in May, up from 79 million tonnes in March, according to China's National Bureau of Statistics. There was no...


Paul Lim

July 20, 2020

10:30 GMT