During the week ending November 21, average hot rolled coil (HRC) prices in the Chinese domestic market first moved down and later started to increase, with current average HRC prices in the market down very slightly 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.
At the beginning of the given week, HRC futures prices in China declined significantly, but have increased again in the past two trading days, with these movements influencing the trend of the domestic HRC spot market. Inventories in the HRC market are at relatively low levels, providing support for HRC prices in the spot market. However, demand has been slacker amid the colder winter weather conditions. It is thought that HRC prices in the Chinese domestic market will likely 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 |
4,100 |
618 |
↓40 |
|
Tianjin |
Ansteel |
4,120 |
621 |
0 |
|||
|
Lecong |
Liuzhou Steel |
4,230 |
638 |
↑10 |
|||
|
Average |
- |
4,150 |
626 |
↓10 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,320 |
652 |
↓50 |
|
Tianjin |
Tangshan Steel |
4,280 |
646 |
0 |
|||
|
Lecong |
Lianyuan Steel |
4,360 |
658 |
↑30 |
|||
|
Average |
- |
4,320 |
652 |
↓7 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.63