During the week ending December 5, average hot rolled coil (HRC) prices in the Chinese domestic market have accelerated their rising trend, 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 indicated large increases, boosting sentiment and prices in the domestic HRC spot market. However, following the rapid rises in the spot market, downstream users of HRC have mostly been cautious about concluding purchases. Currently, inventories of HRC are at relatively low levels, which will provide support for HRC prices to move up further. It is thought that HRC prices in the Chinese domestic market will continue to rise 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 |
4,280 |
648 |
↑160 |
|
Tianjin |
Ansteel |
4,400 |
666 |
↑260 |
|||
|
Lecong |
Liuzhou Steel |
4,440 |
672 |
↑170 |
|||
|
Average |
- |
4,374 |
662 |
↑197 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,520 |
684 |
↑160 |
|
Tianjin |
Tangshan Steel |
4,500 |
681 |
↑220 |
|||
|
Lecong |
Lianyuan Steel |
4,560 |
690 |
↑140 |
|||
|
Average |
- |
4,526 |
685 |
↑173 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.61