During the week ending June 28, average hot rolled coil (HRC) prices for thick specifications in the Chinese domestic market have indicated a slight rising trend, though prices for thin specifications have remained stable, 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, since domestic semi-finished steel prices have increased and also given the backdrop of the bullish mood in the ferrous metal futures market, domestic prices for thick specifications of HRC have indicated a slight uptrend. However, transaction activity is still at low levels. Although rising futures prices have boosted confidence among market players, demand remains the key factor which will determine the trend of HRC prices. It is thought that HRC prices in the Chinese domestic market will likely move sideways in the coming week.
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 |
Tangshan Steel |
2,520 |
379 |
↑40 |
Tianjin |
Tangshan Steel |
2,490 |
374 |
↑40 |
|||
Lecong |
Liuzhou Steel |
2,570 |
386 |
0 |
|||
Average |
- |
2,527 |
380 |
↑27 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,670 |
402 |
0 |
Tianjin |
Tangshan Steel |
2,580 |
388 |
0 |
|||
Lecong |
Lianyuan Steel |
2,730 |
411 |
0 |
|||
Average |
- |
2,660 |
400 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.65