Recently, the prices of hot rolled steel have currently stayed in upward trend in Shanghai market; accordingly, steel mills have tried to increase the prices.
Today, the HR steel prices have soared by RMB20~RMB30/ton in comparison of that in the previous day.
Furthermore, even Wuhan Iron and Steel Corp. (Wisco) announced to cut the HR steel prices by RMB200~RMB300/ton, the transaction prices have still kept increasing in Shanghai market. Hence, it’s predicted that the HR steel prices might remain strong in the near future.
( Source: www.yieh.com )