During the week ending December 27, average hot rolled coil (HRC) prices in
the Chinese domestic market have decreased, 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.
During the given week, weak sentiment has been observed in the local Chinese HRC market due to significant decreases recorded in Chinese futures prices. Meanwhile, some traders have been eager to sell to stimulate cash flow and have thus lowered their HRC offer prices. Ahead of the end of year, tension is expected to be observed in the financing side which may exert negative pressure on futures prices. Market players are mostly pessimistic as regards the future prospects of HRC price trend. It is thought that HRC prices in the Chinese domestic market will likely indicate some fluctuations in the coming period.
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 |
3,650 |
525 |
↓160 |
Tianjin |
Ansteel |
3,600 |
518 |
↓180 |
|||
Lecong |
Liuzhou Steel |
3,700 |
532 |
↓240 |
|||
Average |
- |
3,650 |
525 |
↓193 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
3,940 |
567 |
↓70 |
Tianjin |
Tangshan Steel |
3,800 |
547 |
↓230 |
|||
Lecong |
Lianyuan Steel |
3,820 |
550 |
↓230 |
|||
Average |
- |
3,853 |
554 |
↓177 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.95