During the week ending June 19, average hot rolled coil (HRC) prices in the Chinese domestic market have moved sideways, 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.
HRC futures prices at Shanghai Futures Exchange (SHFE) moved on a fluctuating trend during most of the given week, while declining significantly on June 19 due to the negative impact of the escalation of trade tensions between the US and China. Market participants have started to adopt a wait-and-see stance, with most traders still keeping their HRC offer prices stable. Currently, demand for HRC has become slack due to the hot weather. Meanwhile, inventories in the domestic HRC market have risen slightly compared to the previous week, though they are still at relatively low levels. It is expected 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 |
4,460 |
689 |
↑10 |
|
Tianjin |
Ansteel |
4,240 |
655 |
↓10 |
|||
|
Lecong |
Liuzhou Steel |
4,320 |
668 |
0 |
|||
|
Average |
- |
4,340 |
671 |
0 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,390 |
679 |
↑30 |
|
Tianjin |
Tangshan Steel |
4,360 |
674 |
↓20 |
|||
|
Lecong |
Lianyuan Steel |
4,390 |
679 |
0 |
|||
|
Average |
- |
4,380 |
677 |
↑3 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.47