China's HRC Production Up 2.1% in January-September
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China's hot rolled coil (HRC) production has increased by 2.1 percent year-on-year in the January-September period of 2024, reaching a total of 161.856 million metric tons (mt). This growth is according to data released by China's National Bureau of Statistics (NBS).
In addition to HRC, China's cold rolled coil (CRC) production also saw a significant increase of 6.3 percent year-on-year during the same period, reaching 34.797 million mt.
However, in September alone, both HRC and CRC production experienced slight declines. HRC production fell by 6.4 percent to 17.107 million mt, while CRC production decreased by 2.7 percent to 4.119 million mt.
Despite the monthly declines, the overall trend for HRC and CRC production in China remains positive for the first nine months of 2024. The increase in production is likely attributed to the Chinese government's stimulus policies introduced in late September, which aimed to boost economic development and stimulate demand for steel products.
The price of HRC in the Chinese domestic market fluctuated during September. Prices initially declined but later rose as a result of the positive market sentiment created by the government's stimulus measures. The highest price level for HRC in September was recorded on September 30 at RMB 3,705/mt ($520/mt), while the lowest level was observed on September 9 at RMB 3,085/mt ($433/mt).
China's hot rolled coil (HRC) production has increased by 2.1 percent year-on-year in the January-September period of 2024, reaching a total of 161.856 million metric tons (mt). This growth is according to data released by China's National Bureau of Statistics (NBS).
In addition to HRC, China's cold rolled coil (CRC) production also saw a significant increase of 6.3 percent year-on-year during the same period, reaching 34.797 million mt.
However, in September alone, both HRC and CRC production experienced slight declines. HRC production fell by 6.4 percent to 17.107 million mt, while CRC production decreased by 2.7 percent to 4.119 million mt.
Despite the monthly declines, the overall trend for HRC and CRC production in China remains positive for the first nine months of 2024. The increase in production is likely attributed to the Chinese government's stimulus policies introduced in late September, which aimed to boost economic development and stimulate demand for steel products.
The price of HRC in the Chinese domestic market fluctuated during September. Prices initially declined but later rose as a result of the positive market sentiment created by the government's stimulus measures. The highest price level for HRC in September was recorded on September 30 at RMB 3,705/mt ($520/mt), while the lowest level was observed on September 9 at RMB 3,085/mt ($433/mt).
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