In the week ending December 29, average hot rolled coil (HRC) prices in the Chinese domestic market have continued an overall upward trend, while transaction activity in the overall market has been at decent levels. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, HRC futures prices in China have indicated upward movement, providing support for HRC prices in the domestic spot market. Supply of some HRC products has been on the tight side, which has also provided some support for HRC spot prices. However, some traders are cautious as regards the future prospects for the market as they consider that the rising trend of prices is unlikely continue in the long term. 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 |
2,000 |
309 |
↑40 |
Tianjin |
Tangshan Steel |
1,870 |
289 |
↑20 |
|||
Lecong |
Liuzhou Steel |
2,070 |
319 |
↑10 |
|||
Average |
- |
1,980 |
306 |
↑23 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,120 |
327 |
↑140 |
Tianjin |
Tangshan Steel |
1,950 |
301 |
↑50 |
|||
Lecong |
Lianyuan Steel |
2,100 |
324 |
↑20 |
|||
Average |
- |
2,057 |
317 |
↑70 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.48