During the week ending March 7, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a downward trend, while transaction activity in the overall market is now at low- to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, domestic HRC prices have decreased amid slack demand from downstream users. Most traders are maintaining a wait-and-see stance, contributing to the slackness of transaction activity. The high levels of HRC inventories in the spot market and the recent increase in arrivals of new supplies in the market have been exerting a negative impact on domestic HRC prices. It is thought that HRC prices in the Chinese domestic market will just indicate some slight fluctuations in the coming week.
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 | 3,660 | 531 | ↓170 |
Tianjin | Ansteel | 3,690 | 536 | ↓140 | |||
Lecong | Liuzhou Steel | 3,780 | 549 | ↓120 | |||
Average | - | 3,710 | 538 | ↓143 | |||
Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,770 | 547 | ↓180 |
Tianjin | Tangshan Steel | 3,760 | 546 | ↓120 | |||
Lecong | Lianyuan Steel | 3,880 | 563 | ↓130 | |||
Average | - | 3,803 | 552 | ↓143 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89