During the week ending September 19, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased, 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, ferrous metals futures prices in China have moved on a downward trend, exerting a negative impact on HRC prices in the domestic spot market. Market players are mostly maintaining a wait-and-see stance to gain a clearer picture of the future trend of the market and demand for HRC has not shown any significant improvement. However, inventory levels in the HRC market are at relatively low levels and so traders are unwilling to cut prices by large margins. Meanwhile, environmental protection measures have been introduced in Handan, Hebei Province, to stop sintering activities as of September 18, which will likely curb steel supply and provide support for steel prices in the future. It is thought that HRC prices in the Chinese domestic market will 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 |
4,150 |
631 |
↓70 |
|
Tianjin |
Ansteel |
4,150 |
631 |
↓30 |
|||
|
Lecong |
Liuzhou Steel |
4,300 |
653 |
↓30 |
|||
|
Average |
- |
4,200 |
638 |
↓43 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,300 |
653 |
↓50 |
|
Tianjin |
Tangshan Steel |
4,250 |
646 |
↓30 |
|||
|
Lecong |
Lianyuan Steel |
4,390 |
667 |
↓40 |
|||
|
Average |
- |
4,313 |
655 |
↓40 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.58