As we approach the May 1 holiday, the market in general has been fluctuating in a tight range lately. A slight increase in demand is expected as supply remains high, costs fluctuate marginally and sub-financing conditions are relaxed. The hot rolled plate and coil market is expected to recover in May.
According to Steel Radar's evaluation, Chinese HRC prices remained stable in the last week of April. HRC prices have been around 535 USD since April 18.
In April, the total production of hot rolled coil sample steel facilities was 12.8 million tons, while the final stock value was 3.2 million tons and the surface demand was 3.2 million tons. While there was a decrease in the amount of stock, surface demand increased. The domestic cold and hot rolled coil market showed a slight improvement compared to the previous period, and prices stopped falling and recovered.
Looking at the transaction situation, steel traders think that sales are softer than in the previous period, shipments have increased, and end users' purchasing willingness has increased. Although demand is still the main demand, it is slowly being released, which supports the continued increase in steel prices.
It is estimated that the cold and hot rolled coil market will maintain its current activity trend in the short term and will stabilize and increase in the future. It is stated that the production and sales situation of the manufacturing industry, which consumes large amounts of cold and hot rolled coils recently, has improved. The increase in the production of automobiles and household appliances is expected to accelerate the release of demand for steel products, which will promote the stability and strengthening of cold and hot rolled products.
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