During the week ending August 15, average hot rolled coil (HRC) prices in the Chinese domestic market have declined, while transaction activity in the market has been at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table
During the past week, the China Iron and Steel Association (CISA) held a meeting with related parties to discuss the rapid rises seen in domestic finished steel prices. Furthermore, Shanghai Futures Exchange (SHFE) has increased trading fees for contracts bought and sold on the same trading day, exerting a negative impact on ferrous metals futures prices, in turn negatively influencing HRC prices in the domestic spot market. It is thought that HRC prices in the Chinese domestic market will move down in the coming week, though in the longer term domestic HRC prices are expected to increase given the approach of the traditional peak season for business in September and October.
|
Product Name |
Spec. |
Quality |
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 |
Ansteel |
3,950 |
591 |
↓160 |
|
Tianjin |
Ansteel |
3,940 |
590 |
↓120 |
|||
|
Lecong |
Liuzhou Steel |
4,050 |
606 |
↓50 |
|||
|
Average |
- |
3,980 |
596 |
↓110 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,020 |
602 |
↓190 |
|
Tianjin |
Tangshan Steel |
4,080 |
611 |
↓60 |
|||
|
Lecong |
Lianyuan Steel |
4,120 |
617 |
↓50 |
|||
|
Average |
- |
4,073 |
610 |
↓100 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.68