In the week ending November 10, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a declining trend, while transaction activity in the overall market has been at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, despite some upticks in HRC futures prices, these have failed to influence the local HRC market. Traders have been seeking to sell at lower prices in order to reduce inventory levels and bring in cash. However, HRC prices are already at very low levels and there does not seen to be much room for further downward movement of prices. It is thought that HRC prices in the Chinese domestic market will likely move sideways 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 | 1,830 | 287 | ↓50 |
| Tianjin | Tangshan Steel | 1,740 | 277 | ↓20 | |||
| Lecong | Liuzhou Steel | 1,920 | 301 | ↓40 | |||
| Average | - | 1,833 | 288 | ↓33 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 1,970 | 309 | ↓30 |
| Tianjin | Tangshan Steel | 1,820 | 286 | ↓20 | |||
| Lecong | Lianyuan Steel | 2,000 | 314 | ↓40 | |||
| Average | - | 1,930 | 303 | ↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.36