According to the National Bureau of Statistics (NBS) data, China's hot rolled coil (HRC) production increased by 2.1% year over year from January to September 2024, reaching 161.856 million tons. In the same period, cold rolled coil (CRC) production increased by 6.3%, reaching 34.797 million tons.
In September, China's HRC production was recorded as 17.107 million tons, while CRC production was recorded as 4.119 million tons. These figures indicate a decrease of 6.4% and 2.7%, respectively, on an annual basis. Compared to August, HRC production decreased by 5.42%, while CRC production increased by 8.71%.
HRC prices in the Chinese domestic market fluctuated throughout September. Prices, which experienced a slight decrease at the beginning of the month, recovered after the government implemented stimulus policies to support economic growth at the end of September. The highest level of HRC prices during September was recorded as RMB 3,705 (USD 520) per ton on September 30, while the lowest level was RMB 3,085 (USD 433) per ton on September 9. These stimulus policies positively affected market sentiment, pulling prices to a stable level towards the end of the month.
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