Recovery of Manufacturing Industry Accelerated in February and Price Spread Between CRC and HRC Continued to Expand

SHANGHAI, Mar 2 (SMM) - The price spread between cold and hot-rolled products widened slightly in January, mainly because the prices of HRC fell after hitting high. After the price fluctuation gradually eased, the price spread gradually recovered. In the follow-up stage, according to SMM research, domestic demand for HRC and CRC in January and February was acceptable. But the increasing overseas demand significantly relieve the sales pressure of CRC. In addition, the recovery of manufacturing demand post the Chinese New Year holiday was better than that of the construction industry. It is expected that the price spread between cold and hot-rolled products will still expand sligthly in February.