During the week ending June 4, average hot rolled coil (HRC) prices in the Chinese domestic market have moved down compared to the previous week, 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 at Shanghai Futures Exchange (SHFE) have moved down, exerting a negative impact on HRC prices in spot market. Meanwhile, the demand from downstream users has been slack, also weakening the support to HRC prices. Currently, traders in HRC market 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 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 |
3,880 |
562 |
↓120 |
|
Tianjin |
Ansteel |
3,810 |
551 |
↓130 |
|||
|
Lecong |
Liuzhou Steel |
3,880 |
562 |
↓80 |
|||
|
Average |
- |
3,857 |
558 |
↓110 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,990 |
577 |
↓80 |
|
Tianjin |
Tangshan Steel |
3,890 |
563 |
↓80 |
|||
|
Lecong |
Lianyuan Steel |
3,960 |
573 |
↓80 |
|||
|
Average |
- |
3,947 |
571 |
↓80 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.91