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HRC/CRC price corrected entirely in October, According to the statistics data from Steelhome website (www.steelhome.cn/en), prices of 1.0mm CRC collected from 28 cities averaged at CNY 4838 per tonne, up CNY16 per tonne from that of end Oct., 2.75mm HRC at CNY3694 per tonne, jumping up CNY 66 per tonne, and 5.75mm HRC at CNY3519 per tonne, surging CNY 86 per tonne.

China economy picks up step by step with accelerating growth in investment and consumption. Industrial production moved up quarter by quarter, of which leading steel consumption industries such as machinery, household appliance, auto and real estate ran impetuously. Domestic demand will edge up stably. Excessive output and weak export market brought about great pressure on CR/HR coil supply at home.

Currently, slow rise of demand is out of line with rapid growth of domestic supply, however, thanks to relax monetary policy, the pressure will be eased up to some extent. It is predicted that China CR/HR coil market will retain fluctuation in November; we should put more emphasis on changes of output, inventory and monetary policy adjustment.

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