Transaction activity increases in local Chinese HRC market

During the week ending April 19, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a sharp rising trend, while transaction activity in the overall market is at quite good levels. Average HRC prices in the local Chinese market are presented in the following table.

During the given week, HRC futures prices in China have risen sharply and semi-finished steel prices in the Tangshan district have also increased significantly, providing support for the upward movement of domestic HRC prices. Amid the strong uptrend, buyers of HRC are more eager to buy as they expect further increases in prices and this has resulted in increased transaction activity in the market. It is thought that HRC prices in the Chinese domestic market will likely trend up further in the coming week. 

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.47