During the week ending May 16, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a rising trend, while transaction activity in the overall market has been better than in the previous week and is now at decent levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, Chinese domestic HRC prices have rebounded following the significant declines recorded in the previous week. Inventory levels of HRC in the domestic market have continued to fall, providing support for prices. Market sentiment has improved, resulting in better transaction activity. It is thought that HRC prices in the Chinese domestic market will be characterized by fluctuations 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 | 3,070 | 446 | ↑70 |
| Tianjin | Ansteel | 3,090 | 448 | ↑140 | |||
| Lecong | Liuzhou Steel | 3,210 | 466 | ↑30 | |||
| Average | - | 3,123 | 453 | ↑80 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,170 | 460 | ↑70 |
| Tianjin | Tangshan Steel | 3,180 | 462 | ↑130 | |||
| Lecong | Lianyuan Steel | 3,230 | 469 | ↑30 | |||
| Average | - | 3,193 | 463 | ↑76 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89