During the week ending May 5, average hot rolled coil (HRC) prices for thick specifications in the Chinese domestic market have indicated a slight rising trend, though prices have remained stable for thin specifications, while transaction activity in the market has been at decent levels.
During the given week, iron ore prices in the spot and futures markets have mostly moved sideways, contributing to the stability of local HRC prices. Before the Labor Day holiday (May 1-3), HRC traders and downstream users had maintained a wait-and-see stance, while most of them expected to see a rising price trend after the holiday. A rebound in prices is still anticipated, though it may not be seen in the week ahead. It is expected that HRC prices in the Chinese domestic market will move on a stable trend in the coming week.
Product Name | Spec. | Category | City | Steel Plant/Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
Medium HRC | 5.75 mm x 1,500 mm x C | Q235B/SS400 | Shanghai | Tangshan Steel | 2,420 | 390 | 0 |
Tianjin | Tangshan Steel | 2,550 | 411 | ↑20 | |||
Lecong | Liuzhou Steel | 2,570 | 414 | ↑10 | |||
Average | - | 2,513 | 405 | ↑10 | |||
Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 2,490 | 401 | ↓20 |
Tianjin | Tangshan Steel | 2,650 | 427 | ↑20 | |||
Lecong | Lianyuan Steel | 2,630 | 424 | 0 | |||
Average | - | 2,590 | 417 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21