In the week ending December 15, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated upward movement, while transaction activity in the overall market has been better than in the previous week and is now at decent levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, since HRC futures prices have been moving on a rising trend, HRC prices in the domestic spot market have also indicated upward movement. Meanwhile, both steelmakers and traders have been seeking to maintain the strong trend of prices. Demand from downstream users has improved, with some buyers who had adopted a wait-and-see stance starting to place orders. However, iron ore prices have fallen even further, which will weaken the support for prices of finished steel, including HRC. 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 |
1,840 |
285 |
↑60 |
Tianjin |
Tangshan Steel |
1,770 |
274 |
↑60 |
|||
Lecong |
Liuzhou Steel |
1,950 |
302 |
0 |
|||
Average |
- |
1,853 |
287 |
↑40 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
1,940 |
300 |
↑40 |
Tianjin |
Tangshan Steel |
1,800 |
279 |
↑60 |
|||
Lecong |
Lianyuan Steel |
1,980 |
307 |
0 |
|||
Average |
- |
1,907 |
295 |
↑33 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.46