In the week ending November 17, average hot rolled coil (HRC) prices in the Chinese domestic market have followed a stable trend for thin specifications, though indicating a slight rising trend for thick specifications, while transaction activity in the overall market has been better than in the previous week, though remaining at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, prices of thick specifications of HRC in southern China have moved on a rising trend, though remaining stable in Tianjin and Shanghai. Due to previous price declines, some HRC producers have suspended their production activities, resulting in short supplies of thick specifications in the spot market. Inventory levels of thick specifications in southern China have declined, which will likely provide support for local prices of thick specifications.
It is thought that HRC prices in the Chinese domestic market will likely indicate a rising trend for thick specifications in the coming week as there are not many new supplies arriving in the market. This upward movement could also spark a rising trend in prices of thin specifications of HRC.
Product Name |
Spec. |
Category |
City |
Steel Plant/Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Medium HRC |
5.75 mm x 1,500 mm x C |
Q235B/SS400 |
Shanghai |
Tangshan Steel |
1,830 |
287 |
0 |
Tianjin |
Tangshan Steel |
1,740 |
273 |
0 |
|||
Lecong |
Liuzhou Steel |
1,970 |
309 |
↑50 |
|||
Average |
- |
1,847 |
289 |
↑17 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
1,970 |
309 |
0 |
Tianjin |
Tangshan Steel |
1,820 |
285 |
0 |
|||
Lecong |
Lianyuan Steel |
2,000 |
313 |
0 |
|||
Average |
- |
1,930 |
303 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.38