Export demand fails to support domestic HRC prices

摘要

HRC domestic prices in the Chinese traders. market dropped by $10/t inDecember to $414-424/t ex-warehouse. VAT is excluded here and below.Another price drop was driven by tepid demand in the north of Chinaand excessive supply in the south of the country. Barely any trade occurredin the northern provinces of China due to weather conditions for a rather longperiod of time. Traders therefore redirected some volumes from the north to thesouth, as a result a glut was witnessed there. Stocks of HR sheets in the southof China have increased by 8% over the last two weeks.