As of August 22, average hot rolled coil (HRC) prices in the Chinese domestic market have increased on week-on-week basis, 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.
In the first part of the past week, HRC prices in the Chinese domestic market moved down first due to the declining trend seen in ferrous metals futures prices in China. In the latter part of the week, semi-finished steel and ferrous metals futures prices moved back up again, causing prices in the HRC spot market to switch to an upward trend. Downstream users are mostly cautious about concluding purchases. Currently, inventories in the HRC spot market are at low levels, providing support for HRC prices. Meanwhile, steelmakers have raised their ex-works prices for September delivery. 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 |
4,150 |
623 |
↑200 |
|
Tianjin |
Ansteel |
4,090 |
614 |
↑150 |
|||
|
Lecong |
Liuzhou Steel |
4,230 |
635 |
↑180 |
|||
|
Average |
- |
4,143 |
622 |
↑177 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,220 |
634 |
↑200 |
|
Tianjin |
Tangshan Steel |
4,180 |
628 |
↑100 |
|||
|
Lecong |
Lianyuan Steel |
4,290 |
644 |
↑170 |
|||
|
Average |
- |
4,230 |
635 |
↑157 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.66