During the week ending October 9, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased, while 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, inventory levels of HRC have increased due to the long holiday, while demand has not improved significantly. However, HRC futures prices at Shanghai Futures Exchange (SHFE) have moved up in the past two trading days, which will likely exert a positive impact on the HRC market. It is thought that HRC prices in the Chinese domestic market will likely edge up 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 |
4,200 |
607 |
↓90 |
|
Tianjin |
Ansteel |
4,170 |
603 |
↓50 |
|||
|
Lecong |
Liuzhou Steel |
4,290 |
620 |
↓70 |
|||
|
Average |
- |
4,220 |
610 |
↓70 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,330 |
626 |
↓90 |
|
Tianjin |
Tangshan Steel |
4,260 |
616 |
↓50 |
|||
|
Lecong |
Lianyuan Steel |
4,410 |
637 |
↓40 |
|||
|
Average |
- |
4,333 |
626 |
↓60 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.92