China HR sheet/coil daily recap September 22
On Thursday, most of the leading traders in the Shanghai market reduced their prices of medium hot rolled sheet and coil (HRS&C). Medium and small-scale traders followed suit in the afternoon.
Thin product prices were stable for the most part. Zhujiangs products saw a slight decline, and the prices of imported products slipped considerably.
The prevailing market price of 5.75mm*1500*C SS400 was down RMB 50/ton at RMB 3370/ton ($416); 2.75mm*1250*C SPHC was stable at RMB 3900/ton ($481);
Thailand origin 1.8mm*1250*C SPHC plummeted RMB 150/ton to RMB 4200/ton ($518).
For details, please see the following:
Medium HRS&C* In the morning, some leading traders decreased their prices one after another by RMB 50/ton. Prices of Tangshan Steel and Lianyuan Steel 4.5-11.5mm SS400 were between at RMB 3430-3450/ton ($423-425) after the adjustment. However, several leading traders kept their prices constant at RMB 3480/ton ($429). Prices above RMB 3500/ton ($432) were rarely quoted.
Most medium and smallscale traders reduced their prices by RMB 10-20/ton in the morning. Prices were in the range of RMB 3400-3430/ton ($419-423) for Tangshan Steel, Benxi Steel, Anshan Steel and Liyuan Steels 5.5-11.5mm SS400/Q235B products. Further price reductions were made in the afternoon. Prices of the above-mentioned products were between RMB 3350-3380/ton ($413-417). For Sha Steels 4.5mm Q235B products, the price quotation was as low as RMB 3320/ton ($409).
The notable prices showed declines. The price of Benxi Steel 4.75-7.5mm SS400 was at RMB 3370/ton ($416), down RMB 50/ton; Tangshan Steel 5.75-11.5mm SS400 was RMB 3370/ton ($416), down RMB 50/ton; and Lianyuan Steel 5.5-7.5mm Q235B was RMB 3370/ton ($416), also down RMB 50/ton.
Thin HRS&C** Prices of Zhujiang Steel showed minor declines. One leading trader decreased prices by RMB 30/ton for all Zhujiang Steel products. An increasing number of traders were selling Zhujiang Steel products in the Shanghai market, which caused prices to slide on Thursday.
Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4500/ton ($555) and Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4250/ton ($524). Both prices were down RMB 30/ton from Wednesday.
Prices of Meishan Steel and Lianyuan Steels products were stable but weak. Meishan Steels price for 2.75mm SPHC was RMB 3900/ton ($481), and 2.75mm Q235B was RMB 3800/ton ($469). The price of Lianyuan Steel 2.0mm Q235B was RMB 4100/ton ($506).
Leading traders prices for Shanghai No.1 Steel Plants products were stable. Other traders quoted prices in the range of RMB 3950-4050/ton ($487-499). The actual deal price of Shanghai No.1 Steel 2.75mm SPHC was stable at RMB 3950/ton ($487).
Prices of imported products showed a great decline on Thursday. For products imported from
Thailand and
Malaysia, the price of 1.8mm SPHC was down RMB 150/ton at RMB 4200/ton ($518), and 2.0mm SPHC was down RMB 100/ton at 4100/ton ($506).
MMK (
Russia) 1.8mm08YU was down RMB 100/ton at RMB4200/ton ($518).
MMKs 2.0mm 08YU was also down RMB 100/ton at 4100/ton ($506).
A batch of
HRC imported products from
Brazil will reportedly arrive in Shanghai in the near future.
* For coil which has no indication of width and length, it is regarded as 1500*C
** For coil which has no indication of width and length, it is regarded as 1250*C
SteelOrbis Shanghai