During the week ending July 23, average hot rolled coil (HRC) prices in the Chinese domestic market have edged down slightly, 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 softened by a small margins, exerting a negative impact on HRC prices in the domestic spot market. However, the high levels of iron ore prices have provided solid support for HRC prices, while sellers in the HRC market have been unwilling to make significant reductions in prices. At the same time, the weather in China is very hot, which will drag down demand for HRC. It is expected that HRC prices in the Chinese domestic market will fluctuate within a limited range 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 |
3,870 |
563 |
↓20 |
|
Tianjin |
Ansteel |
3,860 |
561 |
0 |
|||
|
Lecong |
Liuzhou Steel |
3,980 |
578 |
↓20 |
|||
|
Average |
- |
3,904 |
567 |
↓13 |
|||
|
Thin HRC |
2.75 mm x 1,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
4,000 |
581 |
↓10 |
|
Tianjin |
Tangshan Steel |
3,910 |
568 |
↑10 |
|||
|
Lecong |
Lianyuan Steel |
4,070 |
592 |
↓10 |
|||
|
Average |
- |
3,994 |
581 |
↓3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88