In the week ending August 18, average hot rolled coil (HRC) prices in the Chinese domestic market have risen slightly rise for thick specifications and declined slightly for thin specifications, while transaction activity in the overall market has remained at low levels. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, since demand for HRC has been at low levels, HRC traders have mostly been maintaining a wait-and-see stance towards the market. Currently, demand and supply are in equilibrium. However, there is a rumor that Wuhan Iron and Steel will likely carry out maintenance work on its rolling facilities over a period of three months. If it is true, this maintenance work will reduce supply to the HRC market, thereby exerting a positive impact on HRC prices. It is thought that HRC prices in the Chinese domestic market will likely move on 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 |
2,020 |
316 |
↑20 |
Tianjin |
Tangshan Steel |
2,080 |
326 |
↓40 |
|||
Lecong |
Liuzhou Steel |
2,230 |
349 |
↑30 |
|||
Average |
- |
2,110 |
330 |
↑3 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,250 |
352 |
↓20 |
Tianjin |
Tangshan Steel |
2,200 |
344 |
↓30 |
|||
Lecong |
Lianyuan Steel |
2,400 |
376 |
↑20 |
|||
Average |
- |
2,283 |
357 |
↓10 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.33