Weaker transaction activity in local Chinese HRC market

Tuesday, 03 May 2016 14:27:59 (GMT+3)   |   Shanghai
       

During the week ending May 3, average hot rolled coil (HRC) prices in the Chinese domestic market have softened for thick specifications, while rising slightly for thin specifications. Transaction activity in the overall market is now at low levels, having slackened compared to the previous week. Average HRC prices in the local Chinese market are presented in the following table.

During the given week, with sharp declines seen in ferrous metal futures prices, HRC prices in the domestic spot market came under negative pressure in the first half of the past week. Although HRC prices indicated decreases, demand from downstream users did not improve significantly, resulting in slacker transaction activity. In the latter part of the given week, the declines in the ferrous metal futures market came to an end, while demand recovered only slightly on the back of replenishment ahead of the Labor Day holiday (April 30-May 2). It is thought that HRC prices in the Chinese domestic market will likely indicate a fluctuating trend in the coming week as market players will maintain a wait-and-see stance against the background of sharp fluctuations in the ferrous metal futures markets.  
                                                                                                                       

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

3,070

474

10

Tianjin

Tangshan Steel

3,060

473

110

Lecong

Liuzhou Steel

3,050

471

-

Average

-

3,057

472

40

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Tangshan Steel

3,230

499

↑130

Tianjin

Tangshan Steel

3,210

496

60

Lecong

Lianyuan Steel

3,220

498

-

Average

-

3,220

498

23

 
17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.47                              
 
 


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