China HR sheet/coil daily recap – September 21

China HR sheet/coil daily recap – September 21

On Wednesday, leading traders’ prices of medium hot rolled sheet and coil (HRS&C) tended to be uniform after some of them increased their prices in the Shanghai market; however, some medium and small-scale traders lowered their prices. Thin product prices were stable, although some products sold at lower prices. The prevailing market prices were unchanged compared to Tuesday. The price of 5.75mm*1500*C SS400 was RMB 3’420/ton ($422); 2.75mm*1250*C SPHC, RMB 3’900/ton ($481); and Thailand origin 1.8*1250*C SPHC, RMB 4’350/ton ($536). For details, please see the following: Medium HRS&C* Leading traders reportedly met once again last night in order to discuss how best to stabilize the prices in the market. In the morning, some leading traders increased their prices from RMB 3’430/ton ($423) to RMB 3’480/ton ($429) for 4.5-11.5mm SS400 produced by Tangshan Steel. Several leading traders even stopped selling their products in the afternoon. Other leading traders kept their prices constant. The prices of leading traders ranged between RMB 3’480-3’520/ton ($429-434) for medium HRS&C after today’s adjustment. Most medium and small–scale traders kept their prices at RMB 3450/ton ($425). Some of them made minor price reductions to RMB 3’410-3’440/ton ($420-424) for 5.5-11.5mm SS400/Q235B product from Tangshan Steel, Benxi Steel, Anshan Steel and Liyuan Steel. Some products from Sha Steel arrived today in the Shanghai market. The prevailing prices were between at RMB 3’360-3’400/ton ($414-419) for4.5-11.5mm SS400/Q235B product from Sha Steel and Jiuquan Steel. The price of Sha Steel’s products saw an obvious decline. It was reported that leading traders’ transaction volume was low after their price adjustment. Products of small-scale traders, who quoted low prices, were scarce. Medium-scale traders accounted for the majority of the transaction volume. The transaction volume was still low as a whole on Wednesday. The notable prices of each steelmaker were unchanged compared to Tuesday. Benxi Steel 4.75-7.5mm SS400 was at RMB3420/ton ($422); Tangshan Steel 5.75-11.5mm SS400 was at RMB 3’420/ton ($422); and Lianyuan Steel 5.5-7.5mm Q235B was at RMB 3’420/ton ($422). Thin HRS&C** Traders’ price quotations were stable as a whole. The price of Meishan Steel’s 2.75mm SPHC was firm at RMB 3’900/ton ($481), and the company’s 2.75mm Q235B was RMB 3’800/ton ($469). The price of Meishan’s 2.5mm SPHC, however, showed an obvious decline. The actual price of 2.5mm SPHC was RMB 4’000/ton ($493), down RMB 100/ton from Tuesday. The price of Shanghai No.1 Steel 2.75mm SPHC was stable at RMB 3’950/ton ($487). Prices of products from Zhujiang Steel and Lianyuan Steel were unchanged. 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). Prices of products imported from Thailand and Malaysia saw a slight decline. 2.0mm SPHC traded at RMB 4’200/ton ($518), down RMB 50/ton. The price of MMK (Russia) 1.8mm08YU was stable at RMB 4’300/ton ($530). * 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