China’s HRC, CRC prices drop by up to RMB 40/t ($6/t)

China’s CRC prices dropped by RMB 40/t ($6/t) while HRC prices were down by RMB 20/t ($3/t) d-o-d on 2 Sept’22. According to SteelMint data, SHFE HRC futures for Jan’23 delivery settled today at RMB 3,686/t ($534/t), down by RMB 93/t ($13/t) on d-o-d basis. Current prices-

• HRC (4.5-12mm, Q235 B): RMB 3,920/t ($568/t)
• CRC (1-1.2mm, Q195-215A): RMB 4,325/t ($626/t)
• Prices are exw-Tianjin basis, inclusive of 13% VAT.