China HR sheet/coil daily recap – September 27

China HR sheet/coil daily recap – September 27

On Tuesday, prices of medium products showed a great decline in the Shanghai hot rolled sheet and coil (HRS&C) market. Traders slashed prices throughout the day, and the lowest price reached RMB 3’100/ton ($382). Zhujiang Steel’s products continued to slip, while imported products held firm. The transaction volume remained weak. The prevailing price of 5.75mm*1500*C SS400 was RMB 3’160/ton ($390), down RMB 120/ton; 2.75mm*1250*C SPHC was unchanged at RMB 3’800/ton ($469); and Thailand origin 1.8mm*1250*C SPHC was stable at RMB 4’150/ton ($512). For details, please see the following: Medium HRS&C* In the morning, some leading traders decreased their price quotations by RMB 50/ton to RMB 3’270/ton ($403) for Tangshan Steel’s 5.5-11.5mm SS400 products. Later, another leading trader decreased prices by RMB 100/ton, to RMB 3’200/ton ($395), for the same specification of Tangshan Steel and Benxi Steel. After that, other leading traders followed suit, decreasing their prices to RMB 3’200/ton ($395). Medium and small–scale traders made slight price reductions upon opening. Most of them further decreased their prices after leading traders began quoting RMB 3’200/ton ($395). Prices of Tangshan Steel, Benxi Steel, Anshan Steel and Lianyuan Steel’s 5.5-11.5mm SS400/Q235B products were in the range of RMB 3’180-3’230/ton ($392-398). For Sha Steel’s 5.5mm*1250*C Q235B products, the price hit a low of RMB 3’120/ton ($385) after several adjustments in the morning. This represented a drop of RMB 130/ton from Monday. Traders continued to reduce their prices throughout the afternoon. The leading trader who first quoted prices at RMB 3’200/ton ($395) dropped prices an addition RMB 50/ton, to RMB 3’150/ton ($388), for 5.5-11.5mm SS400 products. Some medium and small-scale traders made similar moves. Prices of 5.5-11.5mm SS400/Q235B were generally between RMB 3’150-3’200/ton ($388-395). The price of Sha Steel’s 5.5*1250*C Q235B fell as low as RMB 3’100/ton ($382). Prices of 3.0-3.75mm SS400 showed declines, too. The price of Benxi Steel’s 3.5mm SS400 fell RMB 50/ton to RMB 3’450/ton ($425). Other notable prices were: Benxi Steel 4.75-7.5mm SS400 at RMB 3’160/ton ($390), Tangshan Steel 5.75-11.5mm SS400 at RMB 3’160/ton ($390), and Lianyuan Steel 5.5-7.5mm Q235B at RMB 3’160/ton ($390). All of the notable prices were down RMB 120/ton. Thin HRS&C** Prices of Zhujiang Steel’s products continued to decline. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’250/ton ($524), down RMB 50/ton; Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4’050/ton ($499), down RMB 50/ton; and Zhujiang Steel 1.85mm ZJ330B (Finished Coils) at RMB 3’900/ton ($481), down RMB 50/ton. A leading trader decreased prices by RMB 50/ton, to RMB 3’800/ton ($469), for Shanghai No.1 Steel Plant’s 2.75mm SPHC. Prices of Baosteel and Shanghai No.1 Steel Plant’s SPHC 2.3mm and 2.5mm were stable at RMB 4’000/ton ($493). Shanghai No.1 Steel Plant’s 2.0mm SPHC was RMB 4’200/ton ($518). Meishan Steel’s 2.75mm SPHC was stable at RMB 3’800/ton ($$469), and 2.75mm Q235B was RMB 3’700/ton ($456). Most traders did not quote prices for products from Shanghai No.1 Steel Plant and Meishan Steel. Reportedly, the prevailing market price was far lower than traders’ purchasing price, so traders were not eager to sell their products. In addition, some traders quoted high prices, but they were unable to conclude any transactions. Prices of Lianyuan Steel’s products showed a RMB 50/ton decline. Thus, the price of 1.8mm was RMB 4’050/ton ($499), and 2.0mm Q235B was RMB3’980/ton ($491). Prices of imported products remained unchanged. The price of MMK (Russia) 2.0mm 08YU was RMB 4’000/ton ($493), and 1.8mm08YU was RMB 4’150/ton ($512). For products imported from Thailand and Malaysia, the price of 1.8mm SPHC was RMB 4’150/ton ($512), and 2.0mm SPHC price was RMB 4’050/ton ($499). * 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