During the week ending April 9, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, while activity in the market has been at 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 significantly, bolstering HRC prices in the spot market and pushing up offer prices from traders and HRC producers. Following the sharp rises in HRC prices, downstream users have shown greater caution as regards purchases. However, HRC inventories in the market are not at high levels, and this has had a positive impact on market sentiment. It is thought that HRC prices in the Chinese domestic market will likely move up further 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 |
3,980 |
593 |
↑120 |
Tianjin |
Ansteel |
3,950 |
589 |
↑100 |
|||
Lecong |
Liuzhou Steel |
3,970 |
592 |
↑120 |
|||
Average |
- |
3,967 |
591 |
↑113 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
4,070 |
607 |
↑120 |
Tianjin |
Tangshan Steel |
4,080 |
608 |
↑100 |
|||
Lecong |
Lianyuan Steel |
4,030 |
601 |
↑120 |
|||
Average |
- |
4,060 |
605 |
↑113 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.71