China HR sheet/coil daily recap – September 20

China HR sheet/coil daily recap – September 20

Following from Monday’s low transaction volume, prices of medium hot rolled sheet and coil (HRS&C) fell on Tuesday in the Shanghai market as traders’ lowered their price quotations on the whole. Thin product prices were still weak, and some steelmakers’ products showed obvious reductions. The general transaction volume was low on Tuesday. 5.75mm*1500*C SS400 saw yesterday’s gain erased as the prevailing price fell RMB 30/ton to RMB 3’420/ton ($422); the prevailing price of 2.75mm*1250*C SPHC slid RMB 50/ton to RMB 3’900/ton ($481); Thailand origin 1.8*1250*C SPHC was stable at RMB 4350/ton ($536). For details, please see the following: Medium HRS&C* As a result of a slow Monday, most traders decreased on Tuesday their prices by RMB 20-40/ton to RMB 3460-3480/ton ($427-429) for Tangshan Steel and Benxi Steel 4.5-11.5mm SS400. A few leading traders kept their prices at the level of RMB 3’500/ton ($432), and some of them allowed a larger bargain margin. Some traders who were short on inventory kept their prices on the low end at RMB 3’430/ton ($423). The price of Jiuquan Steel 4.75mm Q235B was again quoted at RMB 3’360/ton ($414) by some medium and small–scale traders. The prevailing price quotations were between at RMB 3’400-3’430/ton ($419-423) for Sha Steel and Jiuquan Steel’s 4.5-11.5mm SS400/Q235B products. It was reported that more than 10’000 tons of products from Sha Steel would arrive in Shanghai soon. The transaction volume was still low after the price decrease, and some medium and small–scale traders further reduced their prices in the afternoon. Prices of Tangshan Steel, Anshan Steel and Benxi Steel’s products were between at RMB 3’410-3’430/ton ($420-423). In addition, prices of 3.5mm and 3.75mm products saw obvious declines today. Prices of products from Tangshan Steel and Benxi Steel decreased by RMB 50/ton to RMB 3’550/ton ($438). The notable prices of each steelmaker showed a slight decline. Benxi Steel 4.75-7.5mm SS400 decreased by RMB 30/ton to RMB3420/ton ($422); Tangshan Steel 5.75-11.5mm SS400 was at RMB 3’420/ton ($422), also down RMB30/ton; and Lianyuan Steel 5.5-7.5mm Q235B was at RMB 3’420/ton ($422), down RMB 10/ton. Thin HRS&C** There was an increase in product from Shanghai No.1 Steel Plant. Some products exhibited obvious declines. The price of Shanghai No.1 Steel 2.75mm SPHC decreased by RMB 80/ton to RMB 3’950/ton ($487). Prices of Zhujiang Steel and Lianyuan Steel’s products were unchanged. Some traders with lower prices saw better transaction volumes. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’530/ton ($559); Zhujiang Steel 1.85mm ZJ330B (Finished Coils) at RMB 4’120/ton ($508); and Lianyuan Steel 2.0mm Q235B at RMB 4’100/ton ($506). It was reported that a trader sent a batch of Meishan Steel’s products from another market. The actual deal price of 2.75mm Q235B Meishan Steel was stable at RMB 3’800/ton ($469), and 2.75mm SPHC was RMB 3’900/ton ($481). The prices were weak. Prices of imported products remained stable. MMK (Russia) 1.8mm08YU was RMB 4’300/ton ($530). Imported 1.8mm SPHC from Thailand and Malaysia traded at RMB 4’350/ton ($536), while 2.0mm SPHC was at 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