During the week ending March 26, average hot rolled coil (HRC) prices in the Chinese domestic market have softened slightly, 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, participants in the domestic HRC market have mostly maintained a wait-and-see stance, resulting in weaker support for HRC prices in the spot market. Meanwhile, in the latter part of the given week, HRC futures prices at Shanghai Futures Exchange (SHFE) have softened, exerting a negative impact on HRC prices. On the positive side, inventories of HRC are at relatively low levels, which provides support for prices, while demand is also expected to improve in the coming period. 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 |
3,860 |
575 |
↓10 |
|
Tianjin |
Ansteel |
3,800 |
566 |
↓20 |
|||
|
Lecong |
Liuzhou Steel |
3,840 |
572 |
↓40 |
|||
|
Average |
- |
3,833 |
571 |
↓23 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,960 |
590 |
0 |
|
Tianjin |
Tangshan Steel |
3,930 |
586 |
↓20 |
|||
|
Lecong |
Lianyuan Steel |
3,900 |
581 |
↓40 |
|||
|
Average |
- |
3,930 |
586 |
↓20 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.71