During the week ending June 6, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated an overall downward 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, steel futures prices in China have declined, exerting a negative impact on the HRC market. Meanwhile, domestic semi-finished steel prices have softened, weakening sentiment among market participants. Moreover, amid the foreseen hot and rainy weather conditions in the coming period, demand from downstream users is expected to slacken. It is thought that HRC prices in the Chinese domestic market will edge down 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 | 3,120 | 459 | ↓190 |
| Tianjin | Ansteel | 3,190 | 470 | ↓90 | |||
| Lecong | Liuzhou Steel | 3,260 | 480 | ↓120 | |||
| Average | - | 3,190 | 470 | ↓133 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,210 | 473 | ↓170 |
| Tianjin | Tangshan Steel | 3,270 | 482 | ↓80 | |||
| Lecong | Lianyuan Steel | 3,310 | 487 | ↓120 | |||
| Average | - | 3,263 | 481 | ↓123 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.79