During the week ending February 21, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated upward movement, while transaction activity in the overall market is now at medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, semi-finished steel prices in Tangshan have indicated significant increases, exerting a positive impact on HRC offer prices in the domestic spot market, while increases in ferrous metal futures prices in China have also provided some support for HRC prices. Bullish sentiment prevails among market players as regards the future prospects for the local HRC market. Meanwhile, production restrictions for environmental protection purposes in China’s northern region have also boosted HRC prices in the spot market. It is thought that HRC prices in China will likely indicate a slight uptrend 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 | 3,860 | 561 | ↑60 |
| Tianjin | Ansteel | 3,840 | 558 | ↑40 | |||
| Lecong | Liuzhou Steel | 3,950 | 574 | ↑90 | |||
| Average | - | 3,883 | 564 | ↑53 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,980 | 578 | ↑20 |
| Tianjin | Tangshan Steel | 3,920 | 570 | ↑30 | |||
| Lecong | Lianyuan Steel | 4,060 | 590 | ↑100 | |||
| Average | - | 3,986 | 579 | ↑50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88