Local Chinese HRC prices edge up

Tuesday, 23 April 2019 12:39:59 (GMT+3)   |   Shanghai
       

During the week ending April 23, average hot rolled coil (HRC) prices in the Chinese domestic market have moved upwards, while activity in the market has been at medium levels. Average HRC prices in the local Chinese market are presented in the following table.  

At the beginning of the given week, HRC prices in China indicated an overall rising trend, while, following the price rises, downstream users have been less willing to conclude purchases. In the following days, HRC futures prices at Shanghai Futures Exchange (SHFE) showed a downward correction, exerting a negative impact on HRC prices in the spot market. However, in the latter days, HRC futures prices have shown a slight rebounding trend, once again providing support for HRC prices in the spot market. The inventory level in HRC market has been at comparatively low level, bolstering HRC prices. However, market players have been more cautious towards prospect for the future trend of the market. 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

4.020

599

↑10

Tianjin

Ansteel

3.950

589

0

Lecong

Liuzhou Steel

4.030

601

↑30

Average

-

4.000

596

↑13

Thin HRC

2.75 mm x 1.,250 mm x C

Q23 5B

Shanghai

Ansteel

4.100

611

0

Tianjin

Tangshan Steel

4.080

608

0

Lecong

Lianyuan Steel

4.080

608

↑30

Average

-

4.087

609

↑10

 

13 percent VAT is included in all prices and all prices are ex-warehouse.

 

$1 = RMB 6.71


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