Local Chinese HRC market continues its upward trend

Tuesday, 08 August 2017 14:28:22 (GMT+3)   |   Shanghai
       

During the week ending August 8, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their upward trend, while transaction 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, since domestic semi-finished steel prices have seen significant rises following the blast furnace output cuts for the coming winter season announced by the authorities in Hebei Province, local HRC prices have gained support and also moved up. Meanwhile, HRC futures prices in China have indicated strong increases, providing additional support for HRC prices in the spot market. However, downstream users are now more cautious about concluding purchases following the sharp increases seen in HRC prices. It is thought that HRC prices in the Chinese domestic market will likely move sideways 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

4,110

613

↑250

Tianjin

Ansteel

4,060

606

↑260

Lecong

Liuzhou Steel

4,100

612

↑200

Average

-

4,090

610

↑236

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Ansteel

4,210

628

↑260

Tianjin

Tangshan Steel

4,140

618

↑290

Lecong

Lianyuan Steel

4,170

622

↑200

Average

-

4,173

623

↑249

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.70


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