China HR sheet/coil daily recap – September 16

China HR sheet/coil daily recap – September 16

On Friday (September 16), traders’ price quotations for hot rolled sheet/coil (HRS&C) in the Shanghai market went in both directions; however, the actual prices were stable. Several specifications of thin products exhibited a price decline. The prevailing market price of 5.75mm*1500*C SS400 was stable at RMB 3’420/ton ($422); 2.75mm*1250*C SPHC decreased RMB 50/ton to RMB 3’950/ton ($487); Thailand origin 1.8*1250*C SPHC quotes were unchanged at RMB 4’350/ton ($536). For details, please see the following: Medium HRS&C The market saw continuous various adjustments today. Some leading traders decreased their prices by RMB 30/ton to settle at RMB 3’430-3’450/ton ($423-425) for 4.5-11.5mm SS400 produced by Tangshan Steel. However, several leading traders increased their prices by RMB 20/ton to RMB 3’520/ton ($434) for the same products. Other steelmakers’ products (Benxi Steel, Anshan Steel) saw a similar adjustment. Most of the other products kept their quoted prices at RMB 3’500/ton ($432). Price quotations of medium and small–scale traders also underwent adjustments in various directions. Some traders reduced their prices for Sha Steel and Tangshan Steel. Prices of 4.5-11.5mm Q235B produced by Sha Steel fell RMB 40/ton to RMB 3’400/ton (($419). The same products produced by Tangshan Steel decreased by RMB 20/ton to RMB 3’430/ton ($423). However, several traders whose quoted prices were RMB 3’350-3’380/ton ($413-417) increased their prices to RMB 3’400/ton ($419). It was rare to see prices quoted below RMB 3400/ton ($419) on Friday. Most traders kept their prices unchanged and they held a “wait-and-see” attitude towards the market trend. The transaction volume was still low today. The notable price of each steelmaker remained unchanged. Benxi Steel 3.5mm SS400 traded at RMB 3’600/ton ($444); Benxi Steel 4.75-7.5mm SS400 at RMB 3’420/ton ($422); Tangshan Steel 5.75-11.5mm SS400 stable at RMB3’420/ton ($422); and Lianyuan Steel 5.5-7.5mm Q235B at RMB 3’400/ton ($419). Thin HRS&C Several leading traders made further price reductions for thin HRS&C produced by Zhujiang Steel and Lianyuan Steel. Prices of Meishan Steel and Shanghai No.1 Steel Plant’s products also declined. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’530/ton ($559), down RMB 40/ton; Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4’280/ton ($528), down RMB 40/ton; Zhujiang Steel 1.85mm ZJ330B (Finished Coils) at RMB 4’120/ton ($508), down RMB 60/ton; and Lianyuan Steel 2.0mm Q235B was at RMB 4’100/ton ($506), down RMB 40/ton. The actual price of 2.75mm Q235B Meishan Steel was stable at RMB 3’800/ton ($469); 2.75mm SPHC was RMB 3’900/ton ($481), down RMB 50/ton; Shanghai No.1 Steel 2.5mm was RMB 4’200/ton ($518), down RMB 20/ton; and 2.75mm SPHC was RMB 4’030/ton ($497), down RMB 20/ton. Banks have stepped up their supervision on the sales of imported products. There are not many sales activities of imported products and prices were relatively stable. For MMK (Russia), 1.8mm08YU price was RMB 4’300/ton ($530). For imported products from Thailand and Malaysia, 1.8mm SPHC traded at RMB 4’350/ton ($536) while 2.0mm SPHC carried a price of RMB 4’250/ton ($524). * 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