Local Chinese HRC prices increase

Tuesday, 09 April 2019 14:50:15 (GMT+3)   |   Shanghai
       

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


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