During the week ending July 26, average hot rolled coil (HRC) prices in the Chinese domestic market have moved up, while transaction activity in the overall market is still on the slack side. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, HRC futures prices at Shanghai Futures Exchange have mostly moved on an upward trend, providing support for HRC prices in the domestic spot market. While HRC traders have raised their offer prices, there has been room for negotiation on prices during transactions. The hot weather in eastern and southern China and the heavy rains in northern China have negatively impacted the circulation of supplies in the market. 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 | 2,590 | 388 | ↑20 |
Tianjin | Tangshan Steel | 2,580 | 386 | ↑40 | |||
Lecong | Liuzhou Steel | 2,730 | 409 | ↑30 | |||
Average | - | 2,633 | 394 | ↑30 | |||
Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 2,650 | 397 | ↑40 |
Tianjin | Tangshan Steel | 2,650 | 397 | ↑30 | |||
Lecong | Lianyuan Steel | 2,790 | 418 | ↔0 | |||
Average | - | 2,697 | 404 | ↑23 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.68