During the week ending May 15, average hot rolled coil (HRC) prices in the Chinese domestic market have mostly moved sideways, 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, HRC futures prices at Shanghai Futures Exchange (SHFE) have moved sideways, while HRC inventories in the physical market have been at relatively low levels, boosting sentiment among traders. With some prices from traders edging up slightly, downstream buyers have been cautious about concluding purchases. At the same time, hot weather conditions have begun to prevail in China, which will negatively affect demand for 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 |
4,230 |
666 |
↑20 |
|
Tianjin |
Ansteel |
4,070 |
641 |
↓30 |
|||
|
Lecong |
Liuzhou Steel |
4,270 |
672 |
↑20 |
|||
|
Average |
- |
4,190 |
660 |
↑3 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,380 |
690 |
0 |
|
Tianjin |
Tangshan Steel |
4,200 |
661 |
↓70 |
|||
|
Lecong |
Lianyuan Steel |
4,320 |
680 |
↑70 |
|||
|
Average |
- |
4,300 |
677 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.35