In 2023, China’s hot rolled coil (HRC) production amounted to 204.973 million mt, increasing by 11.5 percent year on year, according to China’s National Bureau of Statistics (NBS).
In the same period, China’s cold rolled coil (CRC) production totaled 39.88 million mt, up 5.6 percent year on year.
In December alone, China’s hot rolled coil (HRC) production and cold rolled coil (CRC) production totaled 15.618 million mt and 3.79 million mt, down 0.4 percent and up 15.3 percent year on year, while decreasing by 1.27 percent and up 3.61 percent month on month, respectively.
HRC prices in the Chinese domestic market increased first in December, while they fluctuated within a limited range during the rest of the month, with the highest price level of RMB 4,220/mt ($594/mt) seen during December 8-10 and on December 26, and the lowest level during the month observed on December 5 at RMB 4,090/mt ($575/mt). Major Chinese steelmaker Baosteel raised its local base prices for hot rolled coil (HRC) by RMB 200/mt ($28/mt) for delivery in January, exerting a positive impact on prices at the beginning of December, while production restrictions amid the environmental protection measures also bolstered HRC prices towards the end of the month.