China HR sheet/coil daily recap September 27
On Tuesday, prices of medium products showed a great decline in the Shanghai hot rolled sheet and coil (HRS&C) market.
Traders slashed prices throughout the day, and the lowest price reached RMB 3100/ton ($382). Zhujiang Steels products continued to slip, while imported products held firm. The transaction volume remained weak.
The prevailing price of 5.75mm*1500*C SS400 was RMB 3160/ton ($390), down RMB 120/ton; 2.75mm*1250*C SPHC was unchanged at RMB 3800/ton ($469); and
Thailand origin 1.8mm*1250*C SPHC was stable at RMB 4150/ton ($512).
For details, please see the following:
Medium HRS&C* In the morning, some leading traders decreased their price quotations by RMB 50/ton to RMB 3270/ton ($403) for Tangshan Steels 5.5-11.5mm SS400 products. Later, another leading trader decreased prices by RMB 100/ton, to RMB 3200/ton ($395), for the same specification of Tangshan Steel and Benxi Steel. After that, other leading traders followed suit, decreasing their prices to RMB 3200/ton ($395).
Medium and smallscale traders made slight price reductions upon opening. Most of them further decreased their prices after leading traders began quoting RMB 3200/ton ($395). Prices of Tangshan Steel, Benxi Steel, Anshan Steel and Lianyuan Steels 5.5-11.5mm SS400/Q235B products were in the range of RMB 3180-3230/ton ($392-398). For Sha Steels 5.5mm*1250*C Q235B products, the price hit a low of RMB 3120/ton ($385) after several adjustments in the morning. This represented a drop of RMB 130/ton from Monday.
Traders continued to reduce their prices throughout the afternoon. The leading trader who first quoted prices at RMB 3200/ton ($395) dropped prices an addition RMB 50/ton, to RMB 3150/ton ($388), for 5.5-11.5mm SS400 products. Some medium and small-scale traders made similar moves. Prices of 5.5-11.5mm SS400/Q235B were generally between RMB 3150-3200/ton ($388-395). The price of Sha Steels 5.5*1250*C Q235B fell as low as RMB 3100/ton ($382).
Prices of 3.0-3.75mm SS400 showed declines, too. The price of Benxi Steels 3.5mm SS400 fell RMB 50/ton to RMB 3450/ton ($425).
Other notable prices were: Benxi Steel 4.75-7.5mm SS400 at RMB 3160/ton ($390), Tangshan Steel 5.75-11.5mm SS400 at RMB 3160/ton ($390), and Lianyuan Steel 5.5-7.5mm Q235B at RMB 3160/ton ($390). All of the notable prices were down RMB 120/ton.
Thin HRS&C** Prices of Zhujiang Steels products continued to decline. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4250/ton ($524), down RMB 50/ton; Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4050/ton ($499), down RMB 50/ton; and Zhujiang Steel 1.85mm ZJ330B (Finished Coils) at RMB 3900/ton ($481), down RMB 50/ton.
A leading trader decreased prices by RMB 50/ton, to RMB 3800/ton ($469), for Shanghai No.1 Steel Plants 2.75mm SPHC. Prices of
Baosteel and Shanghai No.1 Steel Plants SPHC 2.3mm and 2.5mm were stable at RMB 4000/ton ($493). Shanghai No.1 Steel Plants 2.0mm SPHC was RMB 4200/ton ($518). Meishan Steels 2.75mm SPHC was stable at RMB 3800/ton ($$469), and 2.75mm Q235B was RMB 3700/ton ($456).
Most traders did not quote prices for products from Shanghai No.1 Steel Plant and Meishan Steel. Reportedly, the prevailing market price was far lower than traders purchasing price, so traders were not eager to sell their products. In addition, some traders quoted high prices, but they were unable to conclude any transactions.
Prices of Lianyuan Steels products showed a RMB 50/ton decline. Thus, the price of 1.8mm was RMB 4050/ton ($499), and 2.0mm Q235B was RMB3980/ton ($491).
Prices of imported products remained unchanged. The price of
MMK (
Russia) 2.0mm 08YU was RMB 4000/ton ($493), and 1.8mm08YU was RMB 4150/ton ($512). For products imported from
Thailand and
Malaysia, the price of 1.8mm SPHC was RMB 4150/ton ($512), and 2.0mm SPHC price was RMB 4050/ton ($499).
* 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