During the week ending October 24, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased, 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, HRC futures prices at Shanghai Futures Exchange (SHFE) first declined though later moving back up, with these fluctuations contributing to the week-on-week decline seen in HRC prices in the domestic spot market. Production cuts in northern China due to environmental protection measures have negatively affected demand for HRC, while also resulting in reduced output. Meanwhile, many traders have lowered sales prices to stimulate transaction activities and bring in cash. Currently, HRC prices still have support from the cost side. It is thought that HRC prices in the Chinese domestic market will likely 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 |
4,160 |
627 |
↓20 |
Tianjin |
Ansteel |
4,100 |
618 |
↓20 |
|||
Lecong |
Liuzhou Steel |
4,260 |
643 |
↓40 |
|||
Average |
- |
4,173 |
629 |
↓27 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,310 |
650 |
↓10 |
Tianjin |
Tangshan Steel |
4,250 |
641 |
↓30 |
|||
Lecong |
Lianyuan Steel |
4,350 |
656 |
↓90 |
|||
Average |
- |
4,300 |
649 |
↓43 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.63
