During the week ending October 11, average hot rolled coil (HRC) prices have indicated an overall upward trend, while transaction activity in the overall market has been better than previous week, now at decent levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, HRC prices in the Chinese domestic market have seen an upward movement. Starting from October 1, IMF launches new Special Drawing Right (SDR) basket including Chinese Renminbi, stimulating market participants’ confidence towards prospect for the future market. Meanwhile, HRC futures prices have seen sharp rises in the first two trading days after long holiday, providing strong support to HRC prices in spot market. It is thought that HRC prices in the Chinese domestic market will likely edge up 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 | 2,810 | 419 | ↑60 |
| Tianjin | Tangshan Steel | 2,790 | 416 | ↑10 | |||
| Lecong | Liuzhou Steel | 2,880 | 429 | ↑50 | |||
| Average | - | 2,827 | 421 | ↑40 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 2,920 | 435 | ↑10 |
| Tianjin | Tangshan Steel | 2,870 | 428 | ↑30 | |||
| Lecong | Lianyuan Steel | 2,990 | 446 | ↑50 | |||
| Average | - | 2,927 | 436 | ↑30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.71