Medium HR sheet/coil prices slips in Shanghai

Medium HR sheet/coil prices slips in Shanghai

A noticeable lack of activity during the morning in the Shanghai market saw the price of medium hot rolled sheet/coil (HRS&C) begin a decline that lasted throughout the day on Tuesday. The prevailing market price of medium HRS&C was RMB 3'450/ton ($426) for 5.75mm*1500*C SS400, a decline of RMB 50/ton compared to Monday. The price of 2.75mm**1250*C SPHC thin HRS&C kept stable at RMB 4'000/ton ($494). Thailand origin 5.75mm*1500*C SS400 was quoted at RMB 4350/t, which was also unchanged. For details, please see the following: Medium HRS&C Prices of leading traders showed a decline in the morning as a whole. Prices of Tangshan Steel and Benxi Steel decreased RMB 30/ton to RMB 3'540/ton ($437). Prices of medium and small –scale traders were lower, with quotations for Benxi Steel's 4.5-11.5mm products in the region of RMB 3'500/ton ($432). Some traders even quoted prices in the RMB 3'470-3'480/ton ($429-430) range for Sha Steel and Jiuquan Steel's products. The transaction situation did not get better after the price reduction. Some traders reduced their prices further in the afternoon. Prices of Jiuquan Steel, Sha Steel and Tangshan Steel settled at 3'450/ton ($426) for 4.5-11.5mm Q235B/SS400. Prices of leading traders were unchanged. Notable prices were Benxi Steel 3.5mm SS400 unchanged at RMB 3'600/ton ($445); Benxi 4.75-7.5mm SS400 at RMB 3'470/ton ($429), down RMB30/t; Tangshan Steel 5.75-11.5mm SS400 at RMB3'450/ton ($426), down RMB50/ton; and Lianyuan Steel 5.5-7.5mm Q235B at RMB 3'470/ton ($429), down RMB30/t. Thin HRS&C Prices of Q235B/SS400 thin HRS&C decreased slightly. For Meishan Steel, the actual price of 2.75mm Q235B was RMB 3'850/ton ($476), which was RMB 50/t lower than Monday. Meishan 2.75mm SPHC traded unchanged at RMB 4'000/ton ($494). Some leading traders decreased prices of Zhujiang Steel and Lianyuan Steel by RMB 30-50/ton. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4'650/ton ($575), down RMB 30/ton; Zhuijiang 1.75mm ZJ330B (Finished Coils) at RMB 4'350/ton ($538), down RMB 50/ton; Zhuijiang 1.85mm ZJ330B (Finished Coils) at RMB 4'230/ton ($523), down RMB 50/ton; and Lianyuan Steel 2.0mm Q235B at RMB 4'180/ton ($517), also down RMB 50/ton. Batches of products produced by Zhujiang Steel reportedly arrived in Shanghai recently. Thin products were increasing gradually. On the other hand, Shanghai No.1 Steel Plant will put about 1'000 tons of product into the market via its traders this week. Prices of Shanghai No.1 Steel Plant are still at a high level, with 2.75mm SPHC trading at RMB 4'100/ton ($507). Prices of imported products remained unchanged. The price for MMK (Russia) 1.8mm08YU was RMB 4'300/ton (($531). For imported products from Thailand and Malaysia, 1.8mm SPHC traded at RMB 4'350/ton ($538) while 2.0mm SPHC carried a price of RMB 4'250/ton ($525). Regarding the HRC market trend in Shanghai, some traders indicated that there would be a rebound in the near future after the accelerated decline. Other traders, however, were not nearly as optimistic.