During the week ending May 17, average hot rolled coil (HRC) prices in the Chinese domestic market have bottomed up after the sharp declines seen over the previous two weeks, while transaction activity in the overall market has been at decent levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, due to the rising trend seen in the HRC futures market in China, confidence has improved among HRC traders in the domestic spot market and so they have increased their prices. Meanwhile, supplies arriving in the market have not been so plentiful, resulting in supply shortages for some traders, and this has also provided support for HRC prices. It is thought that HRC prices in the Chinese domestic market will likely move sideways or indicate 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 |
2,610 |
400 |
↑70 |
Tianjin |
Tangshan Steel |
2,530 |
387 |
↓20 |
|||
Lecong |
Liuzhou Steel |
2,720 |
417 |
↑90 |
|||
Average |
- |
2,620 |
401 |
↑46 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,830 |
433 |
↑120 |
Tianjin |
Tangshan Steel |
2,700 |
413 |
0 |
|||
Lecong |
Lianyuan Steel |
2,900 |
444 |
↑70 |
|||
Average |
- |
2,810 |
430 |
↑63 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.53