Fundamentals of HRC in January-February

SHANGHAI, Mar 1 (SMM) - 1. On the supply side, due to the active resumption of production of domestic HRC steel mills from January to February, the average daily output continued to rise month-on-month. 2. In terms of demand, the terminal industries resumed actively in February. It is worth noting that overseas steel prices rose rapidly and export orders were booming. It is expected that the overseas demand for HRC will increase significantly in February to April. 3. In terms of cost , the post-holiday restocking demand from steel mills supported the prices of raw materials. As such, the prices of iron ore and steel scrap are unlikely to fall. In terms of coke, due to the increase in domestic capacity utilisation and customs clearance of Australia coal, coke prices are expected to run weakly and in February.