During the week ending January 23, average hot rolled coil (HRC) prices in the Chinese domestic market have risen for thick specifications, while declining for thin specifications. 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.
During the given week, semi-finished steel prices in China have increased, providing support for HRC prices in the spot market and exerting a positive impact on market sentiment. However, demand for HRC is still on the slack side in the current off-season. Meanwhile, fluctuations in HRC futures prices have caused participants in the HRC spot market to maintain a wait-and-see stance. It is thought that HRC prices in the Chinese domestic market will likely 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 |
4,110 |
641 |
↓20 |
|
Tianjin |
Ansteel |
3,980 |
621 |
↑10 |
|||
|
Lecong |
Liuzhou Steel |
4,160 |
649 |
↑50 |
|||
|
Average |
- |
4,083 |
637 |
↑13 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,280 |
668 |
↓20 |
|
Tianjin |
Tangshan Steel |
4,100 |
640 |
↓20 |
|||
|
Lecong |
Lianyuan Steel |
4, 300 |
671 |
↓50 |
|||
|
Average |
- |
4, 227 |
659 |
↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.41