Local Chinese HRC market follows a rising trend

Tuesday, 24 April 2018 17:23:13 (GMT+3)   |   Shanghai
       

During the week ending April 24, average hot rolled coil (HRC) prices in the Chinese domestic market have moved up, while activity in the market has improved and is now at medium levels. Average HRC prices in the local Chinese market are presented in the following table.

During the given week, ferrous metal futures prices in China have increased, exerting a positive impact on HRC prices in the domestic spot market. Currently, inventories in the HRC market are at relatively low levels and semi-finished steel prices are on a rising trend, providing support for the upward movement of HRC prices. It is thought that HRC prices in the Chinese domestic market will likely increase further 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

4,080

647

↑140

Tianjin

Ansteel

4,010

635

↑110

Lecong

Liuzhou Steel

4,080

647

↑180

Average

-

4,057

643

↑143

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Ansteel

4,350

689

↑40

Tianjin

Tangshan Steel

4,210

667

↑120

Lecong

Lianyuan Steel

4,250

674

↑290

Average

-

4,270

677

↑150

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.31


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