During the week ending August 21, average hot rolled coil (HRC) prices in the Chinese domestic market have moved on an uptrend, while 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 increased, exerting a positive impact on HRC prices in spot market. Meanwhile, environmental protection measures have bolstered market participants’ sentiment. However, following the rising trend in domestic HRC prices, buyers have held a wait-and-see stance towards prospect for the future HRC market, resulting in low-to-medium transaction activities. Local Chinese HRC market is expected to edge up 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 |
4,360 |
637 |
↑70 |
|
Tianjin |
Ansteel |
4,370 |
639 |
↑80 |
|||
|
Lecong |
Liuzhou Steel |
4,460 |
652 |
↑80 |
|||
|
Average |
- |
4,397 |
643 |
↑77 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,500 |
658 |
↑90 |
|
Tianjin |
Tangshan Steel |
4,440 |
649 |
↑50 |
|||
|
Lecong |
Lianyuan Steel |
4,520 |
661 |
↑100 |
|||
|
Average |
- |
4,487 |
656 |
↑80 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.84