During the week ending February 2, average hot rolled coil (HRC) prices in the Chinese domestic market have moved on a stable trend, while transaction activity in the overall market has been at low levels. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, HRC futures prices in China have followed a declining trend, though traders and steelmakers have not adjusted their HRC sales prices despite the increasing bearish sentiment in the market, as downstream users have been exiting the market early ahead of the Chinese New Year holiday (February 8-14). It is expected that HRC prices in the Chinese domestic market will continue their stable trend in the coming week, while local HRC prices will likely indicate a decreasing trend after the holiday.
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 |
2,000 |
304 |
0 |
Tianjin |
Tangshan Steel |
1,930 |
293 |
0 |
|||
Lecong |
Liuzhou Steel |
2,070 |
315 |
0 |
|||
Average |
- |
2,000 |
304 |
0 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,040 |
310 |
0 |
Tianjin |
Tangshan Steel |
2,000 |
304 |
0 |
|||
Lecong |
Lianyuan Steel |
2,170 |
330 |
0 |
|||
Average |
- |
2,070 |
315 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.58