During the week ending September 5, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, 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, after a fire broke out on September 1 at Bengang Steel Plate Co., a subsidiary of Benxi Iron and Steel (Group) Co. (Bengang Group), ferrous metals futures prices in China have increased significantly, exerting a positive impact on HRC prices in the domestic spot market. However, downstream users are less willing to conclude purchases at the current relatively high price levels. Nevertheless, market participants are mostly optimistic on the future prospects for the HRC price trend. It is thought that HRC prices in the Chinese domestic market will likely move up further 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 |
4,370 |
668 |
↑170 |
|
Tianjin |
Ansteel |
4,300 |
657 |
↑200 |
|||
|
Lecong |
Liuzhou Steel |
4,430 |
677 |
↑190 |
|||
|
Average |
- |
4,357 |
666 |
↑187 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,400 |
673 |
↑160 |
|
Tianjin |
Tangshan Steel |
4,420 |
676 |
↑200 |
|||
|
Lecong |
Lianyuan Steel |
4,520 |
691 |
↑170 |
|||
|
Average |
- |
4,447 |
680 |
↑177 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.54