In the week ending July 14, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their downward movement, though price decreases have been smaller compared to the previous week, while transaction activity in the overall market has remained slack. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, HRC futures prices have indicated a rising trend after their previous decline, causing some traders to maintain a wait-and-see stance as they thought there might be a temporary rebound of spot prices, while other traders have chosen to decrease their HRC offer prices due to sluggish market activity and the increased volume of supplies arriving in the market. It is thought that HRC prices in the Chinese domestic market will likely indicate further downward movement in the coming week, though with just minor decreases anticipated.
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 |
1,980 |
319 |
↓20 |
Tianjin |
Tangshan Steel |
2,020 |
325 |
0 |
|||
Lecong |
Liuzhou Steel |
2,080 |
335 |
0 |
|||
Average |
- |
2,027 |
326 |
↓7 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,280 |
367 |
↓20 |
Tianjin |
Tangshan Steel |
2,120 |
341 |
0 |
|||
Lecong |
Lianyuan Steel |
2,280 |
367 |
↓70 |
|||
Average |
- |
2,227 |
359 |
↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21