In the week ending November 24, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a downward 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 table below.
During the given week, HRC futures prices have moved on a downward trend, exerting a negative impact on HRC prices in the spot market. Meanwhile, approaching the end of the month and the end of the year, tight liquidity is prompting traders to sell at lower prices to bring in cash. At the same time, HRC inventory levels have declined, which will provide some support for HRC 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 | 1,810 | 283 | ↓20 |
Tianjin | Tangshan Steel | 1,710 | 268 | ↓30 | |||
Lecong | Liuzhou Steel | 1,970 | 308 | 0 | |||
Average | - | 1,830 | 286 | ↓17 | |||
Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 1,930 | 302 | ↓40 |
Tianjin | Tangshan Steel | 1,770 | 277 | ↓50 | |||
Lecong | Lianyuan Steel | 2,000 | 313 | 0 | |||
Average | - | 1,900 | 297 | ↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.39