China: HRCs, CRCs prices stable d-o-d even as steel futures rise

China’s domestic HRCs and CRCs prices remained stable d-o-d today. Current offers-

• HRCs (4.5-12mm, Q235 B): RMB 4,110/t ($600/t)
• CRCs (1-1.2mm, Q195-215A): RMB 4,570/t ($667/t)
• Prices are exw-Tianjin, including 13% VAT.

However, SHFE HRCs futures for May’23 delivery closed today at RMB 4,199/t ($612/t), up by RMB 35/t ($5/t) d-o-d.