April 2017

China’s HRC prices near 6-month low as bearish sentiment grows

China’s hot rolled coil market plunged to nearly a six-month low on Tuesday April 18 as more traders cashed out, which resulted in prices tumbling lower and lower during the day.

Shagang’s net profit surges to $15m in Q1

Shagang, China’s largest private steelmaker, saw its net profit in the first quarter surge by over 25 times year-on-year.

Shougang cuts prices for May-delivery mainstream flat steel

Northern China’s Shougang have cut its domestic prices for mainstream flat steel products by 200-500 yuan ($29-73) per tonne, according to its announcement late on Monday April 17.

China AM: Ferrous futures down after mills announce price cuts

China’s ferrous futures fell across the board during the morning trading Tuesday April 18 after a couple of major mills announced price cuts for May-delivery steel products a day earlier.

Latin America's CRC, plate export prices down on new offers

Latin America’s export prices for cold rolled coil (CRC) and heavy plate decreased last week, while prices for hot rolled coil (HRC) were unchanged.

Turkish coated coil prices stable in slow market

Turkish coated coil prices were unchanged over the past week in a slow market, according to market participants.

China’s HRC prices fall amid sharp decline in billet market

China’s hot rolled coil prices dropped on Monday April 17 as bearish sentiment intensified after a plunge in the billet market over the weekend.

Bengang lowers prices for May-delivery flat steel

North-east China’s Benxi Iron & Steel (Bengang) have lowered the list prices for most of its mainstream flat steel products by 400-600 yuan ($58-87) per tonne.

Dark clouds emerge in Chinese steel market

Stagnant downstream demand, rising output and the uphill task of promoting capacity cuts in China are collectively weighing on steel prices and casting a shadow over mills’ earnings for this year.