A387 Gr 11 Cl 2 hot rolled coils price on November 25th

According to the latest data from the General Administration of Customs, in October 2020, China exported 2.44 million tons of steel sheets, down 15.1% year-on-year; from January to October, the cumulative exports were 26.9 million tons, down 18.7% year-on-year.

A387 Gr 11 Cl 2 hot-rolled coils price
On November 25, the average price of 4.75mm A387 Gr 11 Cl 2 hot-rolled coils in major cities across the country was 4,205 yuan/ton, down 1 yuan/ton from the previous trading day. Yesterday, some merchants' quotations had a certain dark drop, the market's degree of caution has increased, and merchants' willingness to ship goods has increased significantly. With the exception of the Northeast market, consumption in other markets has declined slightly slower than expected, and the number of orders received by Northeast steel mills has increased in the near future. It is expected that the short-term supply to the market will remain tight. From the perspective of the regional price difference, in the later period, the quantity of northern materials will continue to be sold to the south, and the goods will be released to places with high prices in the form of "hamster". However, when the total amount is small, the short-term disturbance to prices will be slightly smaller. Approaching December, the winter storage behavior has not been mentioned so far, and there is still some support for the market. Today, it is expected that the spot price of A387 Gr 11 Cl 2 hot rolled coil may remain weak and stable.