Negative pressures prevail in local Chinese HRC market

Tuesday, 19 July 2016 11:36:05 (GMT+3)   |   Shanghai
       

During the week ending July 19, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a downward trend, while transaction activity in the overall market is still on the slack side. Average HRC prices in the local Chinese market are presented in the table below.

During the given week, bearish sentiment has prevailed among traders in the domestic HRC market, resulting in the declining trend of HRC prices and a slackening of transaction activity. Meanwhile, the decreasing trends in ferrous metal product futures prices in China have exerted a negative impact on the domestic HRC spot market. Although there is insufficient supply in the HRC market at present, the traditional offseason for business has still had a negatively influence on HRC prices. It is thought that HRC prices in the Chinese domestic market will likely continue their downtrend in the coming week.

 

Product Name

Spec.

Category

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

Tangshan Steel

2,570

384

50

Tianjin

Tangshan Steel

2,540

380

60

Lecong

Liuzhou Steel

2,700

404

0

Average

-

2,603

389

37

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Tangshan Steel

2,610

390

100

Tianjin

Tangshan Steel

2,680

401

20

Lecong

Lianyuan Steel

2,790

417

0

Average

-

2,693

403

27

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.69        


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