During the week ending November 14, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their upward trend, while transaction activity in the market has been at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, HRC futures prices at Shanghai Futures Exchange (SHFE) have moved up, exerting a positive impact on HRC prices in the domestic spot market. However, demand from downstream users has not indicated any significant improvement. Meanwhile, the upcoming production cuts in China are expected to result in reduced HRC supply, which will provide support for HRC prices. 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 |
4,140 |
623 |
↑120 |
Tianjin |
Ansteel |
4,120 |
620 |
↑50 |
|||
Lecong |
Liuzhou Steel |
4,220 |
636 |
↑40 |
|||
Average |
- |
4,160 |
627 |
↑70 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,370 |
658 |
↑90 |
Tianjin |
Tangshan Steel |
4,280 |
645 |
↑60 |
|||
Lecong |
Lianyuan Steel |
4,330 |
652 |
↑70 |
|||
Average |
- |
4,327 |
652 |
↑73 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.64
