During the week ending June 5, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, 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 futures prices at Shanghai Futures Exchange (SHFE) have increased. Traders in the domestic HRC market have been seeking to raise their offer prices, while transaction activity at the higher end of prices has been on the slack side. Downstream users have been cautious about concluding purchases, which limited the room for the upward movement of HRC prices. Steel production cuts implemented to reduce air pollution for the Shanghai Cooperation Organization Summit (SCO) 2018 have resulted in tighter supplies and reduced inventories of HRC. It is thought that HRC prices in the Chinese domestic market will 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 |
4,410 |
688 |
↑170 |
|
Tianjin |
Ansteel |
4,190 |
654 |
↑50 |
|||
|
Lecong |
Liuzhou Steel |
4,280 |
668 |
↓10 |
|||
|
Average |
- |
4,293 |
670 |
↑70 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,320 |
674 |
↑20 |
|
Tianjin |
Tangshan Steel |
4,340 |
677 |
↑100 |
|||
|
Lecong |
Lianyuan Steel |
4,350 |
679 |
↑10 |
|||
|
Average |
- |
4,336 |
676 |
↑43 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.41