Demand remains slack in local Chinese HRC market

Tuesday, 13 August 2019 10:33:58 (GMT+3)   |   Shanghai
       

During the week ending August 13, average hot rolled coil (HRC) prices in the Chinese domestic market have edged down compared to the previous week, while 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. 

During the given week, HRC prices have moved down, with bearish sentiment prevailing among market participant. HRC futures prices at Shanghai Futures Exchange (SHFE) have moved on a downward trend, exerting a negative impact on HRC market. At the same time, the demand for HRC has been slack, resulting in increases in inventory level of HRC. It is expected that HRC prices in the Chinese domestic market will fluctuate within a limited range 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

3,710

528

↑10

Tianjin

Ansteel

3,720

530

↓60

Lecong

Liuzhou Steel

3,790

540

↓30

Average

-

3,740

533

↓27

Thin HRC

2.75 mm x 1,250 mm x C

Q23 5B

Shanghai

Ansteel

3,840

547

10

Tianjin

Tangshan Steel

3,800

541

↓40

Lecong

Lianyuan Steel

3,910

557

↓30

Average

-

3,850

548

↓20

 

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

$1 = RMB 7.02

 


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