Medium HRS&C prices hold steady in Shanghai; quotes vary

Medium HRS&C prices hold steady in Shanghai; quotes vary

On Thursday (September 15), leading traders in Shanghai adjusted their medium hot rolled sheet/coil (HRS&C) prices in various directions; however, the actual prices did not change. Several specifications of thin products showed slight declines. The prevailing market prices of HRS&C were unchanged. 5.75mm*1500*C SS400 was at RMB 3’420/ton ($422); 2.75mm**1250*C SPHC thin HRS&C was at RMB 3’950/ton ($487); and Thailand origin 1.8*1250*C SPHC was quoted at RMB 4’350/ton ($536). For details, please see the following: Medium HRS&C* Traders made different adjustments. In the morning, some leading traders increased their prices by RMB 30-50/ton ($4-5) to RMB 3’480-3’500/ton ($429-432) for 4.5-7.0mm SS400 produced by Benxi Steel. The quoted prices were firm. However, other leading traders decreased their prices by RMB 50/ton ($6) to RMB 3’450/ton ($425) for the same products. Prices of the products from some other steelmakers (Tangshan Steel, Laiwu Steel) changed in a similar fashion. Others retained their quoted prices at RMB 3’500/ton ($432). Price quotations of medium and small –scale traders were stable at RMB 3’450/ton ($425) for Sha Steel, Tangshan Steel, Benxi Steel and Jiuquan Steel’s 4.5-11.5mm SS400/Q235B. In the morning, several traders quoted RMB 3’350/ton ($413) for 4.75mm*1250*C, 7.5mm*1250*C and 9.5mm*1250*C Q235B from Jiuquan Steel. The market saw some delicate changes in the afternoon. The optimistic atmosphere increased, and medium and small–scale traders increased their quoted prices about RMB 50/ton ($6). Even then, several leading traders decreased quoted prices by RMB 50/ton ($6) to RMB 3450/ton ($425) for 5.5-9.5mmSS400/Q235B from Lianyuan Steel, Anshan Steel and Tangshan Steel. The transaction volume did not improve after the price adjustment. Though leading traders made many adjustments for quoted prices, the notable price of each steelmaker did not change. Benxi Steel 3.5mm SS400 traded at RMB 3’600/ton ($444); Benxi Steel 4.75-7.5mm SS400 at RMB 3’420/ton ($422); Tangshan Steel 5.75-11.5mm SS400 at RMB 3’420/ton ($422); and Lianyuan Steel 5.5-7.5mm Q235B at RMB3’400/ton ($419). Thin HRS&C** Leading traders kept their prices unchanged in the morning. Later, some traders decreased their thin HRS&C prices. In the afternoon, some leading traders lowered their price for Zhujiang Steel 1.45-1.60mm ZJ330B (Finished Coils) by RMB 50/ton ($6). Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’570/ton ($564), down RMB 50/ton ($6); Zhujiang Steel 1.75mm ZJ330B (Finished Coils) stable at RMB 4’320/ton ($533); Zhujiang Steel 1.85mm ZJ330B (Finished Coils) stable at RMB 4’180/ton ($515); and Lianyuan Steel 2.0mm Q235B at RMB 4’140/ton ($510). Prices of Meishan Steel and Shanghai No.1 Steel Plant also were unchanged. The actual price of 2.75mm Q235B Meishan Steel was RMB 3’800/ton ($469), and 2.75mm SPHC was RMB 3’950/ton ($487). Shanghai No.1 Steel 2.5mm was at RMB 4’220/ton ($520), and 2.75mm SPHC was at RMB 4’050/ton ($499). Prices of imported products remained unchanged. 1.8mm08YU from MMK (Russia) was RMB 4’300/ton ($530). 1.8mm SPHC products from Thailand and Malaysia traded at RMB 4’350/ton ($536), while 2.0mm SPHC was at RMB 4’250/ton ($524). Yesterday, leading traders held a meeting to discuss the market trend in Shanghai. It was reported that leading traders planed to stabilize and boost the prices in the coming days. Other traders held differing opinions towards the leading traders’ plan. * 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