During the week ending October 23, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased, 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.
During the given week, Hebei Province-based Chinese steelmaker Hebei Iron and Steel Group and Liaoning Province-based Chinese steelmaker Benxi Iron and Steel (Group) Co. have issued their ex-works prices for November shipment, holding their HRC prices stable, which will provide certain support to HRC prices. However, the demand for HRC from downstream users has been slack, resulting in low-to-medium levels transaction activities. It is expected that HRC prices in the Chinese domestic market will edge down 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 |
4,170 |
601 |
↓50 |
|
Tianjin |
Ansteel |
4,120 |
594 |
↓20 |
|||
|
Lecong |
Liuzhou Steel |
4,260 |
614 |
↓30 |
|||
|
Average |
- |
4,184 |
603 |
↓33 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,300 |
620 |
↓50 |
|
Tianjin |
Tangshan Steel |
4,210 |
607 |
↓70 |
|||
|
Lecong |
Lianyuan Steel |
4,370 |
630 |
↓40 |
|||
|
Average |
- |
4,293 |
619 |
↓53 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.94