As of January 30, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased for thin specifications, while remaining stable for thick specifications, both week on week. Transaction activity in the market has been at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.
At the beginning of the given week, due to rises seen in domestic semi-finished steel prices and in HRC futures prices at Shanghai Futures Exchange (SHFE), HRC prices in the domestic market first moved upwards, while they moved back down later in the week. Approaching the Chinese New Year holiday (February 15-21), demand has been slack, though stock replenishment has provided some support for HRC prices. It is thought that HRC prices in the Chinese domestic market will move sideways in the coming week.
|
Product Name |
Spec. |
Quality |
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 |
Ansteel |
4,100 |
649 |
↓10 |
|
Tianjin |
Ansteel |
3,990 |
631 |
↑10 |
|||
|
Lecong |
Liuzhou Steel |
4,160 |
658 |
0 |
|||
|
Average |
- |
4,083 |
646 |
0 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,200 |
665 |
↓80 |
|
Tianjin |
Tangshan Steel |
4,140 |
655 |
↑40 |
|||
|
Lecong |
Lianyuan Steel |
4,190 |
663 |
↓110 |
|||
|
Average |
- |
4,177 |
661 |
↓50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.32