During the week ending November 6, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased, while activity in the market has been at low 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 mostly moved down, exerting a negative impact on HRC prices in the domestic spot market. Although production cut measures have been implemented since the beginning of November for the winter season, HRC output has not been significantly impacted for now. Meanwhile, demand is expected to remain slack. It is thought that HRC prices in the Chinese domestic market will continue to edge down 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 |
4,010 |
579 |
↓120 |
|
Tianjin |
Ansteel |
4,030 |
582 |
↓50 |
|||
|
Lecong |
Liuzhou Steel |
4,080 |
590 |
↓130 |
|||
|
Average |
- |
4,040 |
584 |
↓100 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
4,160 |
601 |
↓30 |
|
Tianjin |
Tangshan Steel |
4,130 |
597 |
↓50 |
|||
|
Lecong |
Lianyuan Steel |
4,150 |
600 |
↓150 |
|||
|
Average |
- |
4,146 |
599 |
↓77 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.92