During the week ending November 22, average hot rolled coil (HRC) prices in the Chinese domestic market have mostly indicated a downward trend though with prices starting to rise at the end of the week, while transaction activity in the overall market has been at low levels. Average HRC prices in the local Chinese market are presented in the following table.
In the first part of the given week, due to the continuous declines in HRC futures prices in China, HRC prices in the Chinese domestic market were also negatively affected, with a sentiment of panic prevailing among market players. However, on November 22, HRC futures prices increased sharply, exerting a positive impact on the spot market, with market participants raising their offer prices accordingly. Some traders have been unwilling to sell at the lower price levels. It is expected that HRC prices in the Chinese domestic market will likely move sideways in the coming week after sharp declines and rises seen in the past 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 |
Ansteel |
3,320 |
482 |
↓70 |
Tianjin |
Ansteel |
3,230 |
469 |
↓40 |
|||
Lecong |
Liuzhou Steel |
3,310 |
480 |
↓80 |
|||
Average |
- |
3,287 |
477 |
↓63 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
3,410 |
495 |
↓80 |
Tianjin |
Tangshan Steel |
3,440 |
499 |
↑30 |
|||
Lecong |
Lianyuan Steel |
3,390 |
492 |
↓80 |
|||
Average |
- |
3,413 |
495 |
↓43 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89