China HR sheet/coil daily recap – September 23

China HR sheet/coil daily recap – September 23

Leading traders decreased their medium hot rolled sheet and coil (HRS&C) prices throughout the day on Friday in Shanghai. Medium and small-scale traders quoted low prices one after another as well. For thin products, a leading trader slashed prices of products from Shanghai No.1 Steel Plant. Some imported products also posted declines. The transaction volume was low today. The prevailing price of 5.75mm*1500*C SS400 was RMB 3’330/ton ($407), down RMB 40/ton; 2.75mm*1250*C SPHC was RMB 3’850/ton ($475), down RMB 50/ton; Thailand origin 1.8mm*1250*C SPHC stayed at RMB 4’200/ton ($518). For details, please see the following: Medium HRS&C* In the morning, most leading traders continuously decreased their prices by RMB 50-60/ton ($6-7). Prices of 4.5-11.5mm SS400 produced by Tangshan Steel and Lianyuan Steel reached RMB 3’390/ton ($418). A leading trader drastically cut prices of Meishan Steel’s products, lowering the price of 7.5-11.5mm*1250*C Q235B by RMB 150/ton to RMB 3’300/ton ($407). Medium and small–scale traders reduced their prices one after another in order to remain competitive. Some of them adjusted their prices several times in the morning. Some medium and small-scale traders decreased their prices by RMB 30-40/ton to RMB 3’350/ton ($413) for Tangshan Steel, Benxi Steel, Anshan Steel and Lianyuan Steel’s 5.5-11.5mm SS400/Q235B products. Other traders soon followed suit, bringing prices down as low as RMB 3’310/ton ($408). Some time later, several traders lowered their prices for Sha Steel 4.5mm*1250*C Q235B to RMB 3’290 ($406). Prices of 3.0-3.75mm SS400 saw a RMB 50/ton decline. Tangshan Steel 3.0mm SS400 was at RMB 3’750/ton ($462), and 3.5mm SS400 was down to RMB 3’500/ton ($432). Being that it was Friday, the market was not brisk in the afternoon. In fact, transaction volume was low as a whole today. The notable prices showed declines today. The price of Benxi Steel 4.75-7.5mm SS400 was at RMB 3’330/ton ($411), down RMB 40/ton; Tangshan Steel 5.75-11.5mm SS400 was RMB 3’330/ton ($407), down RMB 40/ton; And Lianyuan Steel 5.5-7.5mm Q235B was at RMB 3’330/ton ($407), also down RMB 40/ton. Thin HRS&C** For thin HRS&C products, prices decreases varied. A leading trader decreased prices of Baosteel and Shanghai No.1 Steel Plant products by RMB 150/ton. Other traders also lowered their price quotations. The price of Shanghai No.1 Steel 2.75mm SPHC was at a low of RMB 3’800/ton ($469). Baosteel’s SPHC 2.3mm and 2.5mm were down to RMB 4’100/ton ($506). However, the price of Shanghai No.1 Steel Plant’s 2.0mm SPHC was stable at RMB 4’300/ton (530). Meishan Steel’s SPHC products were in short supply and their prices saw a smaller range of decrease. The price of 2.75mm SPHC was RMB 3’850/ton ($475), and 2.75mm Q235B was RMB 3’750/ton ($462). Both prices fell RMB 50/ton. Prices of Zhujiang Steel’s products saw a continuous decline. A leading trader decreased prices for all Zhujiang Steel products. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’450/ton ($549), down RMB 50/ton; Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4’200/ton ($518), down RMB 50/ton; and Zhujiang Steel 1.85mm ZJ330B (Finished Coils) at RMB 4’050/ton ($499), down RMB 70/ton. Prices of Lianyuan Steel’s products showed a RMB 50/ton decline for 1.5-1.8mm Q235B, with 1.8mm trading at RMB 4’150/ton ($512). The price of 2.0mm Q235B was unchanged at RMB 4’100/ton ($506). Prices of imported products were stable except for 2.0mm 08YU, which was down RMB 50/ton to RMB 4’050/ton ($499). For products imported from Thailand and Malaysia, the price of 1.8mm SPHC was RMB 4’200/ton ($518) and 2.0mm SPHC price was RMB 4’100/ton ($506). MMK (Russia) 1.8mm08YU traded at RMB 4’100/ton ($506). * 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