Local Chinese HRC prices indicate slight declines

Tuesday, 14 March 2017 16:39:26 (GMT+3)   |   Shanghai
       

During the week ending March 14, average hot rolled coil (HRC) prices in the Chinese domestic market have softened slightly, while transaction activity in the overall market has remained at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.

During the given week, HRC inventories in the Chinese domestic market have remained at relatively high levels, exerting negative pressure on prices in the domestic spot market. Meanwhile, some traders have been experiencing tight liquidity and have reduced prices in order to increase sales and bring in cash. It is thought that HRC prices in China will either move on a slight downtrend or just fluctuate within a limited range 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

3,600

520

↓60

Tianjin

Ansteel

3,670

530

↓20

Lecong

Liuzhou Steel

3,730

539

↓50

Average

-

3,666

530

↓43

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Ansteel

3,710

536

↓60

Tianjin

Tangshan Steel

3,740

540

↓20

Lecong

Lianyuan Steel

3,840

555

↓40

Average

-

3,763

544

↓37

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.92


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