As of July 25, average hot rolled coil (HRC) prices in the Chinese domestic market have declined slightly on week-on-week basis, while transaction 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, declines in ferrous metals futures prices exerted a negative impact on HRC prices in the domestic market, while the lower prices caused downstream users to step up their HRC purchases, resulting in some improvement in transaction activity. However, in the latter part of the week the improved activity caused HRC prices to edge up again. It is thought that HRC prices in the Chinese domestic market will fluctuate within a narrow range in the coming week, while it is not clear whether upward or downward movement will prevail.
|
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 |
3.930 |
582 |
↑110 |
|
Tianjin |
Ansteel |
3.700 |
548 |
↓60 |
|||
|
Lecong |
Liuzhou Steel |
3.810 |
564 |
↓60 |
|||
|
Average |
- |
3.813 |
565 |
↓4 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
3.860 |
572 |
↓40 |
|
Tianjin |
Tangshan Steel |
3.780 |
560 |
↓50 |
|||
|
Lecong |
Lianyuan Steel |
3.870 |
573 |
↓60 |
|||
|
Average |
- |
3.837 |
568 |
↓50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.75