During the week ending June 7, average hot rolled coil (HRC) prices in the Chinese domestic market have increased for thick specifications, though remaining stable for thin specifications, 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, due to the rising momentum in HRC futures prices in China, traders in the domestic HRC spot market are now more optimistic as regards the future prospects for the market, with some of them increasing their HRC offer prices. Recently, new HRC supplies have continued to arrive in the market, while demand and supply are still generally in equilibrium. Since the Dragon Boat Festival Holiday (June 9-12) is approaching, HRC prices are unlikely to indicate significant changes before the holiday. It is expected that HRC prices in the Chinese domestic market will edge up slightly 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 |
2,540 |
387 |
↑30 |
Tianjin |
Tangshan Steel |
2,500 |
381 |
↑50 |
|||
Lecong |
Liuzhou Steel |
2,670 |
406 |
0 |
|||
Average |
- |
2,570 |
391 |
↓27 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,730 |
416 |
0 |
Tianjin |
Tangshan Steel |
2,610 |
397 |
0 |
|||
Lecong |
Lianyuan Steel |
2,850 |
434 |
0 |
|||
Average |
- |
2,730 |
416 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.57