During the week ending November 20, average hot rolled coil (HRC) prices in the Chinese domestic market have continued to see a decreasing trend, 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 prices have moved down as demand from downstream users has been slack and buyers have been unwilling to conclude purchases. Meanwhile, HRC futures prices at Shanghai Futures Exchange (SHFE) have edged down further, exerting a negative impact on HRC prices in spot market. Market players have mostly held a pessimistic attitude towards prospect for the future HRC market. It is expected that HRC prices in the Chinese domestic market will 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 |
3,780 |
545 |
↓20 |
|
Tianjin |
Ansteel |
3,800 |
548 |
↓60 |
|||
|
Lecong |
Liuzhou Steel |
3,890 |
561 |
↓20 |
|||
|
Average |
- |
3,824 |
551 |
↓33 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,860 |
556 |
↓40 |
|
Tianjin |
Tangshan Steel |
3,930 |
566 |
↓40 |
|||
|
Lecong |
Lianyuan Steel |
3,940 |
568 |
↓120 |
|||
|
Average |
- |
3,910 |
563 |
↓66 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.94