During the week ending October 16, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a slight increase for thin specifications, though slightly decreased for thick specifications, 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 at Shanghai Futures Exchange (SHFE) have moved up, exerting a positive impact on HRC prices in the spot market. In the given week, there was a rumor about Shagang Group’s production halt, bolstering HRC futures prices. Though the rumor was refuted later, the impact of possible production halt has positively affected the HRC market. It is expected 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 |
4,220 |
610 |
↑20 |
|
Tianjin |
Ansteel |
4,140 |
598 |
↓30 |
|||
|
Lecong |
Liuzhou Steel |
4,290 |
620 |
0 |
|||
|
Average |
- |
4,217 |
609 |
↓3 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,350 |
629 |
↑20 |
|
Tianjin |
Tangshan Steel |
4,280 |
618 |
↑20 |
|||
|
Lecong |
Lianyuan Steel |
4,410 |
637 |
0 |
|||
|
Average |
- |
4,347 |
628 |
↑13 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.92