During the week ending November 13, 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 moved down, while domestic semi-finished steel prices have indicated significant declines, resulting in bearish sentiment and a negative impact on prices in the domestic HRC market. Currently, downstream users are mostly maintaining a wait-and-see stance and so HRC sellers have had to sell at lower prices in order to stimulate sales. It is thought that HRC prices in the Chinese domestic market will likely move 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 |
3,800 |
547 |
↓210 |
|
Tianjin |
Ansteel |
3,860 |
555 |
↓170 |
|||
|
Lecong |
Liuzhou Steel |
3,910 |
563 |
↓170 |
|||
|
Average |
- |
3,857 |
555 |
↓183 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,900 |
561 |
↓260 |
|
Tianjin |
Tangshan Steel |
3,970 |
571 |
↓160 |
|||
|
Lecong |
Lianyuan Steel |
4,060 |
584 |
↓90 |
|||
|
Average |
- |
3,976 |
572 |
↓170 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.95