Decent transaction activity in local Chinese HRC market

Tuesday, 05 May 2015 15:42:52 (GMT+3)   |   Shanghai
       

During the week ending May 5, average hot rolled coil (HRC) prices for thick specifications in the Chinese domestic market have indicated a slight rising trend, though prices have remained stable for thin specifications, while transaction activity in the market has been at decent levels.
 
During the given week, iron ore prices in the spot and futures markets have mostly moved sideways, contributing to the stability of local HRC prices. Before the Labor Day holiday (May 1-3), HRC traders and downstream users had maintained a wait-and-see stance, while most of them expected to see a rising price trend after the holiday. A rebound in prices is still anticipated, though it may not be seen in the week ahead. It is expected that HRC prices in the Chinese domestic market will move on a stable 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

2,420

390

0

Tianjin

Tangshan Steel

2,550

411

20

Lecong

Liuzhou Steel

2,570

414

10

Average

-

2,513

405

10

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Tangshan Steel

2,490

401

↓20

Tianjin

Tangshan Steel

2,650

427

20

Lecong

Lianyuan Steel

2,630

424

0

Average

-

2,590

417

0

 


17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.21


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