During the week ending May 8, average hot rolled coil (HRC) prices in the Chinese domestic market have moved up, 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, domestic HRC prices have moved up, while demand has been stable compared to the previous week. Currently, inventories are still being consumed, which has a positive impact on HRC prices. However, HRC futures prices at Shanghai Futures Exchange (SHFE) have moved on a soft trend in the past four trading days, which may negatively affect HRC prices in the spot market. 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 |
4,210 |
661 |
↑130 |
|
Tianjin |
Ansteel |
4,100 |
644 |
↑90 |
|||
|
Lecong |
Liuzhou Steel |
4,250 |
667 |
↑170 |
|||
|
Average |
- |
4,187 |
657 |
↑130 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,380 |
688 |
↑30 |
|
Tianjin |
Tangshan Steel |
4,270 |
670 |
↑60 |
|||
|
Lecong |
Lianyuan Steel |
4,250 |
667 |
0 |
|||
|
Average |
- |
4,300 |
675 |
↑30 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.37