During the week ending May 14, average hot rolled coil (HRC) prices in the Chinese domestic market have declined, 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, HRC futures prices in China have moved down sharply, exerting a negative impact on HRC prices in the domestic spot market. Amid increasing pessimism, sellers have been willing to reduce their prices. However, inventories of HRC are at relatively low levels, thereby providing some support for HRC prices. At the same time, high costs have bolstered HRC prices to some extent. Nevertheless, 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 |
4,000 |
581 |
↓60 |
|
Tianjin |
Ansteel |
3,900 |
567 |
↓30 |
|||
|
Lecong |
Liuzhou Steel |
3,980 |
578 |
↓70 |
|||
|
Average |
- |
3,960 |
576 |
↓53 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
4,080 |
593 |
↓40 |
|
Tianjin |
Tangshan Steel |
4,010 |
583 |
↓30 |
|||
|
Lecong |
Lianyuan Steel |
4,040 |
587 |
↓70 |
|||
|
Average |
- |
4,043 |
588 |
↓47 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88