During the week ending March 29, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated fluctuations but are now at higher levels compared to one week ago, while transaction activity in the overall market has been at decent levels. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, HRC futures prices have followed a fluctuating trend, rising first, softening in the middle of the week and edging up again later in the week, resulting in a similar trend in the local HRC spot market, though average HRC spot prices are now higher week on week. With bullish sentiment still prevailing in the ferrous metal markets, the local HRC market is characterized by a confident mood. It is thought that HRC prices in the Chinese domestic market will either move sideways or indicate a slight uptrend 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 |
2,440 |
375 |
↑10 |
Tianjin |
Tangshan Steel |
2,470 |
379 |
↑40 |
|||
Lecong |
Liuzhou Steel |
2,500 |
384 |
↑40 |
|||
Average |
- |
2,470 |
379 |
↑30 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,540 |
390 |
0 |
Tianjin |
Tangshan Steel |
2,620 |
402 |
↑20 |
|||
Lecong |
Lianyuan Steel |
2,600 |
399 |
↑50 |
|||
Average |
- |
2,587 |
397 |
↑23 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.51