During the week ending June 13, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, while transaction activity in the market has been at medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, the uptrend in the steel futures market and semi-finished steel prices in China has exerted a positive impact on the domestic HRC market. Sentiment among market players has improved and they have increased their prices. Also, steelmakers’ output and inventories have decreased, providing support for the HRC market. However, steel future prices in China have indicated significant declines on June 13, while the further trend of futures prices is uncertain. It is thought that HRC prices in the Chinese domestic market will likely move sideways 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 | 3,260 | 479 | ↑140 |
| Tianjin | Ansteel | 3,290 | 484 | ↑100 | |||
| Lecong | Liuzhou Steel | 3,360 | 494 | ↑100 | |||
| Average | - | 3,303 | 486 | ↑113 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,360 | 494 | ↑150 |
| Tianjin | Tangshan Steel | 3,370 | 496 | ↑100 | |||
| Lecong | Lianyuan Steel | 3,420 | 503 | ↑110 | |||
| Average | - | 3,383 | 498 | ↑120 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.80