During the week ending May 23, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a rising trend, while transaction activity in the overall market has been at decent levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, Chinese domestic finished steel and semi-finished steel prices have increased, providing strong support for domestic HRC prices. Meanwhile, Chinese ferrous metal futures prices have also moved up significantly, exerting positive influence on HRC prices in the spot market. With steel production cuts due to environmental protection measures still supporting HRC prices, it is thought that HRC prices in the Chinese domestic market will continue to increase 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 | 3,310 | 480 | ↑240 |
| Tianjin | Ansteel | 3,280 | 476 | ↑190 | |||
| Lecong | Liuzhou Steel | 3,380 | 491 | ↑170 | |||
| Average | - | 3,323 | 482 | ↑200 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,380 | 491 | ↑210 |
| Tianjin | Tangshan Steel | 3,350 | 486 | ↑170 | |||
| Lecong | Lianyuan Steel | 3,430 | 498 | ↑200 | |||
| Average | - | 3,386 | 491 | ↑193 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89