During the week ending October 25, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated an upward trend, while transaction activity in the overall market has been slacker than previous week and is now at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, average prices of HRC in the Chinese domestic market have moved up, though some traders have kept their prices stable. With the continuous rises seen in HRC prices in recent weeks, downstream users have mostly started to maintain a wait-and-see stance towards the market, resulting in weaker transaction activity. At the same time, with the end of the month approaching, some traders may sell at lower prices to bring in cash. However, HRC futures prices in China have again continued their upward movement after the corrections recorded in recent days. It is thought that HRC prices in the Chinese domestic market will 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 | Ansteel | 2,880 | 425 | ↑10 |
| Tianjin | Ansteel | 2,880 | 425 | 0 | |||
| Lecong | Liuzhou Steel | 2,930 | 432 | ↑10 | |||
| Average | - | 2,897 | 427 | ↑7 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,100 | 457 | ↑10 |
| Tianjin | Tangshan Steel | 2,980 | 440 | ↑40 | |||
| Lecong | Lianyuan Steel | 3,030 | 447 | ↑20 | |||
| Average | - | 3,037 | 448, | ↑24 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.78