During the given week, iron ore futures prices have increased significantly, exerting a positive impact on local HRC prices. HRC prices in the Chinese domestic market, which had remained at low levels over a long period, have finally indicated a rebound, while transaction activity has also improved. Since sellers anticipate further price increases in the coming period, some of them have suspended their sales activities in order to wait for higher prices. Currently, bullish sentiment prevails among HRC traders. It is expected that HRC prices in the Chinese domestic market will move up further 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 |
2,420 |
390 |
↑70 |
Tianjin |
Tangshan Steel |
2,530 |
408 |
↑120 |
|||
Lecong |
Liuzhou Steel |
2,560 |
413 |
↑50 |
|||
Average |
- |
2,503 |
404 |
↑80 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,510 |
405 |
↑40 |
Tianjin |
Tangshan Steel |
2,630 |
424 |
↑100 |
|||
Lecong |
Lianyuan Steel |
2,630 |
424 |
↑40 |
|||
Average |
- |
2,590 |
418 |
↑60 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21