In the week ending June 23, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a downtrend, while transaction activity in the overall market has been slack. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, iron ore prices have softened, exerting a negative impact on local HRC prices. The outputs of steelmakers in northern China have increased, while their products have flowed into southern China due to lower prices in northern China. HRC inventories in the overall Chinese market are on the low side, while transaction activity is on the slow side. Meanwhile, some steelmakers are planning to reduce their production. Before such production cuts are implemented, it is expected that HRC prices in the Chinese domestic market will edge down further in the coming week due to slack demand amid rainy weather conditions.
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 |
2,290 |
369 |
↓40 |
Tianjin |
Tangshan Steel |
2,240 |
361 |
↓10 |
|||
Lecong |
Liuzhou Steel |
2,230 |
359 |
↓90 |
|||
Average |
- |
2,253 |
363 |
↓80 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,430 |
391 |
0 |
Tianjin |
Tangshan Steel |
2,310 |
372 |
↓30 |
|||
Lecong |
Lianyuan Steel |
2,590 |
417 |
↓10 |
|||
Average |
- |
2,443 |
393 |
↓14 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21