During the week ending July 9, average hot rolled coil (HRC) prices in the Chinese domestic market have moved down, 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, HRC futures prices in China have softened, exerting a negative impact on HRC prices in the domestic spot market. Meanwhile, the rainy weather is still negatively affecting demand for HRC. Despite the production cuts implemented in northern China, supply has not dropped as much as expected. With new HRC supplies arriving in the market, inventories of HRC will likely increase, which will weaken the support for prices. It is expected that HRC prices in the Chinese domestic market will fluctuate within a limited range 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 |
3,920 |
569 |
0 |
Tianjin |
Ansteel |
3,860 |
560 |
↓60 |
|||
Lecong |
Liuzhou Steel |
3,960 |
575 |
↓70 |
|||
Average |
- |
3,913 |
568 |
↓43 |
|||
Thin HRC |
2.75 mm x 1,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
4,030 |
585 |
0 |
Tianjin |
Tangshan Steel |
3,900 |
566 |
↓40 |
|||
Lecong |
Lianyuan Steel |
4,040 |
586 |
↓70 |
|||
Average |
- |
3,990 |
579 |
↓37 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89