China HR sheet/coil daily recap – September 28

China HR sheet/coil daily recap – September 28

On Wednesday, price quotations of medium products were stable in the Shanghai hot rolled sheet and coil (HRS&C) market; however, actual deal prices showed a slight decline in the morning. Transaction volume picked up in the market, and some traders increased their price quotations in the afternoon. Prices of thin products produced by domestic steelmakers held steady, while imports saw a decline. Compared to Tuesday, the price of 5.75mm*1500*C SS400 was down RMB 10/ton at RMB 3’150/ton ($388); 2.75mm*1250*C SPHC was unchanged at RMB 3’800/ton ($469); and Thailand origin 1.8mm*1250*C SPHC was down RMB 50/ton at RMB 4’100/ton ($506). For details, please see the following: Medium HRS&C* Most leading traders kept their prices stable in the morning. Several leading traders increased their price quotations by RMB 50/ton, to RMB 3’200/ton ($395), for Tangshan Steel and Benxi Steel’s 5.5-11.5mm SS400 products. It was reported that the actual deal prices of leading traders were at RMB 3’150/ton ($388). Most medium and small–scale traders kept their prices stable. Some traders made minor adjustments, while others did not quote prices at all due to the holiday next week. Prices of Tangshan Steel, Benxi Steel, Anshan Steel and Lianyuan Steel’s 5.5-11.5mm SS400/Q235B products were in the range of RMB 3’130-3’200/ton ($386-395), down RMB 20/ton from Tuesday. For Shagang 5.5mm*1250*C Q235B, the price increased RMB 20/ton to RMB 3’120/ton ($385). It was reported that several leading traders purchased medium HRC at a price of RMB 3’100/ton ($382) from other traders in the morning. In the afternoon, more and more traders reportedly bought some products. Some end users who come from other cities placed large orders with Shanghai traders. The transaction volume saw an obvious increase in the afternoon, and some traders indicated that many activities were concluded at the price of RMB 3’150/ton ($388). Price quotations showed a slight increase after that. By closing time, notable prices showed a slight decline compared to those of yesterday: Benxi Steel 4.75-7.5mm SS400 was at RMB 3’150/ton ($388); Tangshan Steel 5.75-11.5mm SS400 was down RMB 10/ton at RMB 3’150/ton ($388); and Lianyuan Steel 5.5-7.5mm Q235B was down RMB 30/ton at RMB 3’130/ton. Thin HRS&C** Prices of most thin products remained unchanged. Zhujiang Steel’s products of leading traders were in small quantity and the price kept stable. Some traders, however, decreased their prices for Zhujiang Steel’ products. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’200/ton ($518), down RMB 50/ton; Zhujiang Steel 1.75mm ZJ330B (Finished Coils) unchanged at RMB 4’050/ton ($499); and Zhujiang Steel 1.85mm ZJ330B (Finished Coils) unchanged at RMB 3’900/ton ($481). Prices of Shanghai No.1 Steel Plant, Meishan Steel and Lianyuan Steel’s products also showed no changes. Shanghai No.1 Steel Plant’s 2.75mm SPHC was stable at 3’800/ton ($469); Meishan Steel’s 2.75mm SPHC was RMB 3’800/ton ($469) and 2.75mm Q235B was RMB 3’700/ton ($456); and Lianyuan Steel 2.0mm Q235B was RMB 3’980/ton ($491). Prices of imported products posted minor declines. For products imported from Thailand and Malaysia, the price of 1.8mm SPHC was RMB 4’100/ton ($506), and that of 2.0mm SPHC was RMB 4’000/ton ($493). Both prices were down RMB 50/ton. MMK (Russia) 2.0mm 08YU was stable at RMB 4’000/ton ($493), and 1.8mm08YU was RMB 4’150/ton ($512). * 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