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Highest Chinese HRB Price Rises as Steel Output Slows
The Chinese domestic price for hot rolled band (HRB) climbed by $23/t in the two weeks to 13 December to the highest level since February 2013 at $556/t, according to the latest SteelBenchmarker from World Steel Dynamics. The Chinese HRB price has now risen by almost $30/t in the past month.
Winter curtailment measures on steel mills in Northern China from 15 November have impacted supply. Daily crude steel output at China Iron and Steel Association member mills retreated to the lowest level since March in the last ten days of November at 1.76 Mt, according to data from the industry association reported by U-metal.
Meanwhile, the US HRB price climbed to an eleven-week high of $690/t on 13 December, up by $8/t over the previous two weeks, while the Western European price slipped $4/t over the same period to $628/t.