During the week ending August 28, average hot rolled coil (HRC) prices in the Chinese domestic market have seen a decreasing trend, while activity in the market has been at low-to-medium 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 (SHFE) have decreased, exerting a negative impact on HRC prices in spot market. Currently, the inventory level in HRC market has been at comparatively low level, which will provide certain support to HRC prices. Meanwhile, steelmakers’ ex-works prices for HRC will also bolster HRC prices in the spot market from cost side. It is expected that HRC prices in the Chinese domestic market will move sideways in the coming week.
|
Product Name |
Spec. |
Quality |
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 |
Ansteel |
4,360 |
641 |
0 |
|
Tianjin |
Ansteel |
4,330 |
637 |
↓40 |
|||
|
Lecong |
Liuzhou Steel |
4,430 |
651 |
↓30 |
|||
|
Average |
- |
4,373 |
643 |
↓24 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,480 |
659 |
↓20 |
|
Tianjin |
Tangshan Steel |
4,450 |
654 |
↑10 |
|||
|
Lecong |
Lianyuan Steel |
4,490 |
660 |
↓30 |
|||
|
Average |
- |
4,473 |
658 |
↑14 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.80