During the week ending October 18, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated an 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 following table.
During the given week, HRC futures prices at Shanghai Futures Exchange have increased, exerting a positive impact on the domestic spot market and causing bullish sentiment to prevail among market participants. Meanwhile, HRC supplies have been on the short side in the spot market, providing support for increases in traders’ prices. It is thought that HRC prices in the Chinese domestic market will likely edge up further 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 | 2,870 | 426 | ↑60 |
| Tianjin | Tangshan Steel | 2,880 | 427 | ↑90 | |||
| Lecong | Liuzhou Steel | 2,920 | 433 | ↑40 | |||
| Average | - | 2,890 | 429 | ↑63 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 3,090 | 458 | ↑170 |
| Tianjin | Tangshan Steel | 2,940 | 436 | ↑70 | |||
| Lecong | Lianyuan Steel | 3,010 | 447 | ↑20 | |||
| Average | - | 3,013 | 449 | ↑87 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.74