Prices of HR sheet/coil slip in Shanghai on September 14

Prices of HR sheet/coil slip in Shanghai on September 14

On Wednesday (September 14), prices of medium hot rolled sheet/coil (HRS&C) in the Shanghai market declined as leading traders found themselves unable to maintain their prices from Tuesday afternoon. The prevailing market price of medium 5.75mm*1500*C SS400 was RMB 3’420/ton ($423), down RMB 30/ton compared to Tuesday. Quotes for Thailand origin 1.8*1250*C SPHC remained unchanged at RMB 4’350/ton ($538). The price of 2.75mm**1250*C SPHC thin HRS&C dropped RMB 50/ton to RMB 3’950/ton ($488). For details, please see the following: Medium HRS&C* Some leading traders decreased their prices on Wednesday (September 14) since their former prices did not reflect the current market conditions. Prices of 4.0-7.5mm SS400/Q235B Tangshan Steel and Benxi Steel ranged between RMB 3’500-3’530/ton ($433-436), which were still higher than the mainstream market price. 7.5mm and thicker SS400 were quoted at RMB 3’500/ton ($433) at large, lower than the above-mentioned prices. Price quotations of medium and small –scale traders were stable at RMB 3’450/ton ($426) for Sha Steel, Tangshan Steel and Jiuquan Steel’s 4.5-11.5mm SS400/Q235B products. The price of Benxi Steel’s products also fell to this level. In the morning, several traders quoted a price of RMB 3’400/ton ($420) for Jiuquan Steel’s 4.7mm Q235B products. Furthermore, medium and small –scale traders allowed for a larger bargain margin today. It was reported that the bargain margin increased to RMB 50/ton, and the products of many traders were traded between RMB 3’400-3’420/ton ($420-423) with better transaction volume. In the afternoon, the prices of some traders were even at RMB 3’360/ton ($415) for 4.7mm Q235B Jiuquan Steel. Notable prices were Benxi Steel 3.5mm SS400 unchanged at RMB3’600/ton (($445); Benxi Steel 4.75-7.5mm SS400 at RMB3’420/ton ($423), down RMB50/ton; Tangshan Steel 5.75-11.5mm SS400 at RMB3’420/ton ($423), down RMB 30/ton; and Lianyuan Steel 5.5-7.5mm Q235B at RMB3’400/ton ($420), down RMB 70/ton. Thin HRS&C** Leading traders decreased their prices of Zhujiang Steel and Lianyuan Steel throughout the day on Wednesday. Notable prices were Zhujiang Steel 1.5mm ZJ330B (Finished Coils) at RMB 4’620/ton ($571), down RMB 30/ton; Zhujiang Steel 1.75mm ZJ330B (Finished Coils) at RMB 4’320/ton ($534), also down RMB 30/ton; Zhujiang Steel 1.85mm ZJ330B (Finished Coils) at RMB 4’180/ton ($517), down RMB 50/ton; and Lianyuan Steel 2.0mm Q235B at RMB 4’140/ton ($512), down RMB 40/ton. Prices of Meishan Steel also decreased. The actual price of 2.75mm Q235B was RMB 3’800/ton ($470), and 2.75mm SPHC was at RMB 3’950/ton ($488); both prices were RMB 50/ton lower than Tuesday. It was reported that hundreds of 2.5-2.75 SPHC products produced by Shanghai No.1 Steel Plant were put into market on Tuesday. The prices were still higher than the prevailing ones, but the actual deal price showed a decline. Shanghai No.1 Steel 2.5mm was at RMB 4’220/ton ($522) and 2.75mm SPHC was at RMB 4’050/ton ($501), both down RMB 50/ton. Prices of imported products remained unchanged. The price of 1.8mm08YU from MMK (Russia) was RMB 4’300/ton ($532). For imported products from Thailand and Malaysia, 1.8mm SPHC traded at RMB 4’350/ton ($538) and 2.0mm SPHC carried a price of RMB 4’250/ton ($525). Some major warehouses in Shanghai market indicated that their current inventories far exceed what could reasonably be considered normal. * For coil that has no indication of width and length, it is regarded as 1500*C ** For coil that has no indication of width and length, it is regarded as 1250*C 8.09400 RMB = $1 SteelOrbis Shanghai Office