Local Chinese HRC market continues to see slack activity

Tuesday, 26 July 2016 10:53:23 (GMT+3)   |   Shanghai
       

During the week ending July 26, average hot rolled coil (HRC) prices in the Chinese domestic market have moved up, while transaction activity in the overall market is still on the slack side. Average HRC prices in the local Chinese market are presented in the table below.

During the given week, HRC futures prices at Shanghai Futures Exchange have mostly moved on an upward trend, providing support for HRC prices in the domestic spot market. While HRC traders have raised their offer prices, there has been room for negotiation on prices during transactions. The hot weather in eastern and southern China and the heavy rains in northern China have negatively impacted the circulation of supplies in the market. It is thought that HRC prices in the Chinese domestic market will likely edge up further 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

2,590

388

20

Tianjin

Tangshan Steel

2,580

386

40

Lecong

Liuzhou Steel

2,730

409

30

Average

-

2,633

394

30

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Tangshan Steel

2,650

397

40

Tianjin

Tangshan Steel

2,650

397

30

Lecong

Lianyuan Steel

2,790

418

0

Average

-

2,697

404

23

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.68      


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