Positive sentiment prevails in local Chinese HRC market

Tuesday, 11 July 2017 14:39:11 (GMT+3)   |   Shanghai
       

During the week ending July 11, 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, due to increases in ferrous metals futures prices in China, prices in the domestic HRC spot market have also moved up amid optimistic sentiment. However, following the rapid rises seen in HRC prices, downstream users have become more cautious about making purchases. Currently, inventory levels in the HRC market are at relatively low levels, providing support for HRC prices. 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

3,800

559

↑60

Tianjin

Ansteel

3,680

541

↑90

Lecong

Liuzhou Steel

3,760

553

↑80

Average

-

3,747

551

↑77

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Ansteel

3,650

537

↑50

Tianjin

Tangshan Steel

3,750

551

↑60

Lecong

Lianyuan Steel

3,810

560

↑70

Average

-

3,737

550

↑60

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.80


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