Local Chinese HRC market sees improved sentiment

Tuesday, 13 June 2017 15:34:46 (GMT+3)   |   Shanghai
       

During the week ending June 13, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, while transaction activity in the market has been at medium levels. Average HRC prices in the local Chinese market are presented in the following table.

During the given week, the uptrend in the steel futures market and semi-finished steel prices in China has exerted a positive impact on the domestic HRC market. Sentiment among market players has improved and they have increased their prices. Also, steelmakers’ output and inventories have decreased, providing support for the HRC market. However, steel future prices in China have indicated significant declines on June 13, while the further trend of futures prices is uncertain. It is thought that HRC prices in the Chinese domestic market will likely move sideways 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 3,260 479 ↑140
Tianjin Ansteel 3,290 484 ↑100
Lecong Liuzhou Steel 3,360 494 ↑100
Average - 3,303 486 ↑113
Thin HRC 2.75 mm x 1.,250 mm x C Q235B Shanghai Ansteel 3,360 494 ↑150
Tianjin Tangshan Steel 3,370 496 ↑100
Lecong Lianyuan Steel 3,420 503 ↑110
Average - 3,383 498 ↑120
 
17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.80


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