During the week ending November 7, average hot rolled coil (HRC) prices in the Chinese domestic market have increased, 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, HRC futures prices in China have moved up from the low levels recorded in the previous week, providing solid support for HRC prices in the domestic spot market. Market participants are mostly optimistic as regards the future prospects for the market and so they have increased their offer prices. Currently, inventories of HRC in the spot market are at relatively low levels. Meanwhile, steelmakers will be implementing production cuts in the coming period within the scope of environmental cuts. It is thought that HRC prices in the Chinese domestic market will rise further 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 |
4,020 |
605 |
↑60 |
|
Tianjin |
Ansteel |
4,070 |
613 |
↑40 |
|||
|
Lecong |
Liuzhou Steel |
4,180 |
630 |
↑90 |
|||
|
Average |
- |
4,090 |
616 |
↑63 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,280 |
645 |
↑60 |
|
Tianjin |
Tangshan Steel |
4,220 |
636 |
0 |
|||
|
Lecong |
Lianyuan Steel |
4,260 |
642 |
↑80 |
|||
|
Average |
- |
4,254 |
641 |
↑47 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.64