During the week ending July 16, average hot rolled coil (HRC) prices in the Chinese domestic market have moved up very 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, HRC prices in the Lecong market have increased as the rainy weather in southern China is expected to come to an end soon. Meanwhile, following the declines seen in HRC futures prices at Shanghai Futures Exchange in the first part of the week, HRC futures prices have started to rebound in the last two trading days, which will bolster HRC prices in the spot market. However, inventory levels in the HRC market have increased, which will likely exert a negative impact on the HRC market. 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 |
3,890 |
566 |
↓30 |
Tianjin |
Ansteel |
3,860 |
562 |
0 |
|||
Lecong |
Liuzhou Steel |
4,000 |
582 |
↑40 |
|||
Average |
- |
3,917 |
570 |
↑3 |
|||
Thin HRC |
2.75 mm x 1,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
4,010 |
584 |
↓20 |
Tianjin |
Tangshan Steel |
3,900 |
568 |
0 |
|||
Lecong |
Lianyuan Steel |
4,080 |
594 |
↑40 |
|||
Average |
- |
3,997 |
582 |
↑7 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89