In the week ending August 11, average hot rolled coil (HRC) prices in the Chinese domestic market have moved on a slight downtrend, while transaction activity in the overall market has remained at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, HRC futures prices have indicated a decreasing trend, exerting a negative impact on the positive sentiment which existed in the local HRC spot market and contributing to the downtrend of spot prices. Currently, HRC traders are cautious about giving offer prices, resulting in slack transaction activity. Semi-finished steel prices, which had edged up in the first part of the week, dropped back down later in the week, also negatively affecting HRC prices. It is thought that HRC prices in the Chinese domestic market will likely edge down slightly 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 |
2,000 |
316 |
0 |
Tianjin |
Tangshan Steel |
2,120 |
335 |
↑10 |
|||
Lecong |
Liuzhou Steel |
2,200 |
348 |
↓60 |
|||
Average |
- |
2,107 |
333 |
↓16 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,270 |
359 |
↓20 |
Tianjin |
Tangshan Steel |
2,230 |
352 |
↓10 |
|||
Lecong |
Lianyuan Steel |
2,380 |
376 |
↓30 |
|||
Average |
- |
2,293 |
362 |
↓20 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.33