During the week ending August 20, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, while activity in the market has improved, now at medium levels. Average HRC prices in the local Chinese market are presented in the following table.
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
5.75 mm x 1,250 mm x C |
Q235B/SS400 |
3,763 |
+23 |
534 |
+3 |
|
2.75 mm x 1,250 mm x C |
Q235B |
3,880 |
+30 |
550 |
+4 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, Chinese domestic finished steel prices have moved up, providing a certain degree of support for domestic HRC prices in the market. Meanwhile, HRC futures prices at Shanghai Futures Exchange (SHFE) have rebounded recently, exerting a positive influence on HRC prices in the spot market. Against the backdrop of the positive impact of environmental protection measures on HRC prices, it is thought that HRC prices in the Chinese domestic market will continue to move up in the coming week.
$1 = RMB 7.05