During the week ending June 21, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased, 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, market players have been pessimistic as regards the future prospects for the local HRC market, and this has contributed to the slackness of transaction activity. In addition, the sluggish activity in the semi-finished steel market has exerted a negative impact on the HRC market. Traders have mostly chosen to sell at lower prices in order to bring in cash. After previous price decreases, it is thought that HRC prices in the Chinese domestic market may just soften slightly in the week ahead.
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 |
2,480 |
377 |
↓60 |
Tianjin |
Tangshan Steel |
2,450 |
372 |
↓70 |
|||
Lecong |
Liuzhou Steel |
2,570 |
391 |
↓100 |
|||
Average |
- |
2,500 |
380 |
↓70 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,670 |
406 |
↓80 |
Tianjin |
Tangshan Steel |
2,580 |
392 |
↓40 |
|||
Lecong |
Lianyuan Steel |
2,730 |
415 |
↓120 |
|||
Average |
- |
2,660 |
404 |
↓80 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.58