China HR sheet/coil daily recap – September 26

China HR sheet/coil daily recap – September 26

On Monday, prices of both medium and thin products showed declines in the Shanghai hot rolled sheet and coil (HRS&C) market. The price of medium HRS&C fell below the level of RMB 3’300/ton ($407) in the afternoon. Zhujiang Steel’s products showed an obvious decrease, and imported products continued to slip. Transaction volume did not improve. The prevailing price of 5.75mm*1500*C SS400 was RMB 3’280/ton ($404), down RMB 50/ton; 2.75mm*1250*C SPHC was RMB 3’800/ton ($469), down RMB 50/ton; and Thailand origin 1.8mm*1250*C SPHC fell RMB 50/ton to RMB 4’150/ton ($512). For details, please see the following: Medium HRS&C* In the morning, some leading traders decreased their price quotations. Prices of 5.5-11.5mm SS400 produced by Tangshan Steel, Benxi Steel and Lianyuan Steel were between RMB 3’300-3’350/ton ($407-413). The leading trader who slashed prices for Meishan Steel’s products last weekend increased the price for 7.5-11.5mm*1250*C Q235B by RMB 50/ton to RMB 3’350/ton ($413) today. However, the actual deal price remained stable. Medium and small–scale traders reduced their prices after the leading traders’ price adjustments. Prices of Tangshan Steel, Benxi Steel, Anshan Steel and Lianyuan Steel’s 5.5-11.5mm SS400/Q235B products were in the range of RMB 3’280-3’330/ton ($404-411). For 5.5mm*1250*C Q235B from Sha Steel, the price was at a low of RMB 3’250/ton ($401). In the afternoon, some medium and small-scale traders made further price reductions for Tangshan Steel, Baotou Steel, Jiuquan Steel and Lianyuan Steel’s products. Prices of 5.5-11.5mm SS400/Q235B were down between RMB 3’250-3’280/ton ($401-404). The price of 3.0-3.75mm SS400 remained unchanged. Benxi Steel’s 3.5mm SS400 price was stable at RMB 3’500/ton ($432). Other notable prices were Benxi Steel 4.75-7.5mm SS400 at RMB 3’280/ton ($404), Tangshan Steel 5.75-11.5mm SS400 at RMB 3’280/ton ($404), and Lianyuan Steel 5.5-7.5mm Q235B at RMB 3’280/ton ($404). All of the prices were down RMB 50/ton. Thin HRS&C** Prices of Zhujiang Steel’s products posted noticeable declines. A leading trader decreased prices for all Zhujiang Steel products by RMB 100/ton. Other traders also made price reductions. Batches of products were still entering the Shanghai market, and there are reports that Zhujiang Steel might return some profit to its traders for the products in September. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’300/ton ($530), down RMB 150/ton; Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4’100/ton ($506), down RMB 100/ton; and Zhujiang Steel 1.85mm ZJ330B (Finished Coils) at RMB 3’950/ton ($487), down RMB 100/ton. The leading trader who decreased prices of Baosteel and Shanghai No.1 Steel Plant’s products by RMB 150/ton last weekend increased prices for Shanghai No.1 Steel’s 2.75mm SPHC product by RMB50/ton to RMB 3’850/ton ($475). Other traders kept their prices at RMB 3’800/ton ($469). The prices of Baosteel’s SPHC 2.3mm and 2.5mm were down RMB 100/ton to RMB 4’000/ton ($493). The price of Shanghai No.1 Steel Plant’s 2.0mm SPHC was also down RMB 100/ton to RMB 4’200/ton ($518). Meishan Steel’s SPHC products were still in small quantity and their prices saw a smaller decrease range. The price of 2.75mm SPHC was RMB 3’800/ton ($469), and 2.75mm Q235B was RMB 3’700/ton ($456); both prices fell RMB 50/ton. A shipment of Meishan Steel’s products is expected to arrive in Shanghai in the near future. Prices of Lianyuan Steel’s products showed a RMB 50/ton decline for 1.5-1.8mm Q235B, thus bringing the price of 1.8mm to RMB 4’100/ton ($506). The price of 2.0mm Q235B was RMB 4’030/ton ($497), down RMB 70/ton. Prices of imported products slipped today. The price of MMK (Russia) 2.0mm 08YU was RMB 4’000/ton ($493), and 1.8mm08YU was RMB 4’150/ton ($512); both were down RMB 50/ton. For products imported from Thailand and Malaysia, the price of 1.8mm SPHC was RMB 4’150/ton ($512), and 2.0mm SPHC was RMB 4’050/ton ($499); both were also down RMB 50/ton. * For coil which has no indication of width and length, it is regarded as 1500*C ** For coil which has no indication of width and length, it is regarded as 1250*C SteelOrbis Shanghai