Average hot rolled coil (HRC) prices in the Chinese domestic market have increased as compared to the price levels seen before the long National Day Holiday (October 1-8), 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.
Early on October 9, the first trading day after the long holiday, local traders sharply raised their HRC prices in the Chinese domestic market. However, demand did not indicate any significant improvement on the day in question, while HRC futures prices at Shanghai Futures Exchange (SHFE) declined, negatively affecting sentiment in the spot market, dragging down HRC spot prices later on the same day. Today, October 10, HRC futures prices at SHFE have decreased further, causing HRC prices in the spot market to soften further. It is expected that HRC prices in the Chinese domestic market will likely move on a downward trend 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 |
4,130 |
628 |
↑220 |
|
Tianjin |
Ansteel |
4,160 |
632 |
↑190 |
|||
|
Lecong |
Liuzhou Steel |
4,310 |
655 |
↑200 |
|||
|
Average |
- |
4,200 |
638 |
↑203 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,290 |
652 |
↑140 |
|
Tianjin |
Tangshan Steel |
4,280 |
650 |
↑170 |
|||
|
Lecong |
Lianyuan Steel |
4,400 |
669 |
↑230 |
|||
|
Average |
- |
4,320 |
657 |
↑180 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.58