During the week ending October 31, 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) have moved down, exerting a negative impact on HRC prices in the domestic spot market. Approaching the winter season when production cuts will be implemented, the pressure from the supply side will be eased to some extent, which will provide some support for domestic HRC prices. However, demand will also slacken with the arrival of the winter season and will likely negatively affect HRC prices. It is thought that HRC prices in the Chinese domestic market will 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 |
3,960 |
597 |
↓200 |
Tianjin |
Ansteel |
4,030 |
608 |
↓70 |
|||
Lecong |
Liuzhou Steel |
4,090 |
617 |
↓170 |
|||
Average |
- |
4,027 |
607 |
↓147 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,220 |
637 |
↓90 |
Tianjin |
Tangshan Steel |
4,220 |
637 |
↓30 |
|||
Lecong |
Lianyuan Steel |
4,180 |
630 |
↓170 |
|||
Average |
- |
4,207 |
634 |
↓97 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.63