During the week ending August 8, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their upward trend, while transaction activity in the market has been at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, since domestic semi-finished steel prices have seen significant rises following the blast furnace output cuts for the coming winter season announced by the authorities in Hebei Province, local HRC prices have gained support and also moved up. Meanwhile, HRC futures prices in China have indicated strong increases, providing additional support for HRC prices in the spot market. However, downstream users are now more cautious about concluding purchases following the sharp increases seen in HRC prices. 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 |
4,110 |
613 |
↑250 |
|
Tianjin |
Ansteel |
4,060 |
606 |
↑260 |
|||
|
Lecong |
Liuzhou Steel |
4,100 |
612 |
↑200 |
|||
|
Average |
- |
4,090 |
610 |
↑236 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,210 |
628 |
↑260 |
|
Tianjin |
Tangshan Steel |
4,140 |
618 |
↑290 |
|||
|
Lecong |
Lianyuan Steel |
4,170 |
622 |
↑200 |
|||
|
Average |
- |
4,173 |
623 |
↑249 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.70