During the week ending February 26, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, while activity in the market has improved, though remaining 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 increased on most days, exerting a positive impact on HRC prices in the domestic spot market. Demand for HRC is still gradually recovering, with the rainy weather in China continuing to slow the speed of its recovery. It is expected that HRC prices in the Chinese domestic market will likely fluctuating 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 |
3,800 |
567 |
↑50 |
|
Tianjin |
Ansteel |
3,750 |
560 |
↑10 |
|||
|
Lecong |
Liuzhou Steel |
3,850 |
575 |
↑60 |
|||
|
Average |
- |
3800 |
567 |
↑40 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,910 |
584 |
↑50 |
|
Tianjin |
Tangshan Steel |
3,880 |
579 |
↑10 |
|||
|
Lecong |
Lianyuan Steel |
3,920 |
585 |
↑30 |
|||
|
Average |
- |
3,903 |
583 |
↑30 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.70