In the week ending October 13, average hot rolled coil (HRC) prices in the Chinese domestic market have moved on a stable trend, while transaction activity in the overall market has seen some improvement and is now at decent levels. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, measures by China's central bank to increase bank lending as well as the rises seen in the Chinese stock market have boosted sentiment in the domestic finished steel market. Meanwhile, inventory levels of HRC are at comparatively low levels, resulting in improved transaction activity in the spot market. It is believed that HRC prices in the Chinese market will likely indicate a slight rising trend in the coming week.
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 |
1,910 |
301 |
0 |
Tianjin |
Tangshan Steel |
1,970 |
311 |
0 |
|||
Lecong |
Liuzhou Steel |
2,020 |
319 |
0 |
|||
Average |
- |
1,966 |
310 |
0 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,080 |
328 |
0 |
Tianjin |
Tangshan Steel |
2,120 |
334 |
0 |
|||
Lecong |
Lianyuan Steel |
2,200 |
347 |
0 |
|||
Average |
- |
2,133 |
336 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.34