China HR sheet/coil daily recap – September 22

China HR sheet/coil daily recap – September 22

On Thursday, most of the leading traders in the Shanghai market reduced their prices of medium hot rolled sheet and coil (HRS&C). Medium and small-scale traders followed suit in the afternoon. Thin product prices were stable for the most part. Zhujiang’s products saw a slight decline, and the prices of imported products slipped considerably. The prevailing market price of 5.75mm*1500*C SS400 was down RMB 50/ton at RMB 3’370/ton ($416); 2.75mm*1250*C SPHC was stable at RMB 3’900/ton ($481); Thailand origin 1.8mm*1250*C SPHC plummeted RMB 150/ton to RMB 4’200/ton ($518). For details, please see the following: Medium HRS&C* In the morning, some leading traders decreased their prices one after another by RMB 50/ton. Prices of Tangshan Steel and Lianyuan Steel 4.5-11.5mm SS400 were between at RMB 3’430-3’450/ton ($423-425) after the adjustment. However, several leading traders kept their prices constant at RMB 3’480/ton ($429). Prices above RMB 3’500/ton ($432) were rarely quoted. Most medium and small–scale traders reduced their prices by RMB 10-20/ton in the morning. Prices were in the range of RMB 3’400-3’430/ton ($419-423) for Tangshan Steel, Benxi Steel, Anshan Steel and Liyuan Steel’s 5.5-11.5mm SS400/Q235B products. Further price reductions were made in the afternoon. Prices of the above-mentioned products were between RMB 3’350-3’380/ton ($413-417). For Sha Steel’s 4.5mm Q235B products, the price quotation was as low as RMB 3’320/ton ($409). The notable prices showed declines. The price of Benxi Steel 4.75-7.5mm SS400 was at RMB 3’370/ton ($416), down RMB 50/ton; Tangshan Steel 5.75-11.5mm SS400 was RMB 3’370/ton ($416), down RMB 50/ton; and Lianyuan Steel 5.5-7.5mm Q235B was RMB 3’370/ton ($416), also down RMB 50/ton. Thin HRS&C** Prices of Zhujiang Steel showed minor declines. One leading trader decreased prices by RMB 30/ton for all Zhujiang Steel products. An increasing number of traders were selling Zhujiang Steel products in the Shanghai market, which caused prices to slide on Thursday. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’500/ton ($555) and Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4’250/ton ($524). Both prices were down RMB 30/ton from Wednesday. Prices of Meishan Steel and Lianyuan Steel’s products were stable but weak. Meishan Steel’s price for 2.75mm SPHC was RMB 3’900/ton ($481), and 2.75mm Q235B was RMB 3’800/ton ($469). The price of Lianyuan Steel 2.0mm Q235B was RMB 4’100/ton ($506). Leading traders’ prices for Shanghai No.1 Steel Plant’s products were stable. Other traders quoted prices in the range of RMB 3’950-4’050/ton ($487-499). The actual deal price of Shanghai No.1 Steel 2.75mm SPHC was stable at RMB 3’950/ton ($487). Prices of imported products showed a great decline on Thursday. For products imported from Thailand and Malaysia, the price of 1.8mm SPHC was down RMB 150/ton at RMB 4’200/ton ($518), and 2.0mm SPHC was down RMB 100/ton at 4’100/ton ($506). MMK (Russia) 1.8mm08YU was down RMB 100/ton at RMB4’200/ton ($518). MMK’s 2.0mm 08YU was also down RMB 100/ton at 4’100/ton ($506). A batch of HRC imported products from Brazil will reportedly arrive in Shanghai in the near future. * 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