During the week ending January 17, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a slight rising trend, while transaction activity in the overall market has been better than in the previous week. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, average prices of HRC in the Chinese domestic market have moved up slightly due to the rising trend of ferrous metals futures in China, causing transaction activities to improve to medium levels. However, with the Chinese New Year holiday approaching, some traders now want to sell at lower prices to bring in cash, constituting downward pressure on HRC prices in the spot market. It is thought that HRC prices in the Chinese domestic market may indicate some slight fluctuations 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 | 3,770 | 548 | ↑70 |
| Tianjin | Ansteel | 3,730 | 542 | ↑100 | |||
| Lecong | Liuzhou Steel | 3,820 | 555 | ↑10 | |||
| Average | - | 3,773 | 548 | ↑60 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,870 | 563 | ↑40 |
| Tianjin | Tangshan Steel | 3,830 | 557 | ↑50 | |||
| Lecong | Lianyuan Steel | 3,900 | 567 | 0 | |||
| Average | - | 3,867 | 562 | ↑30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88