During the week ending January 15, average hot rolled coil (HRC) prices in the Chinese domestic market have declined, while activity in the market has been at low levels. Average HRC prices in the local Chinese market are presented in the following table.
HRC futures prices at Shanghai Futures Exchange (SHFE) moved sideways in the first part of the given week, while declining on January 15 and thereby exerting negative pressure on HRC prices in the Chinese domestic market. As the Chinese New Year holiday (February 2-10) is approaching, downstream users have been unwilling to conclude purchases, resulting in the low activity in the market. It is expected that HRC prices in the Chinese domestic market will move sideways 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 |
3,620 |
536 |
↓30 |
|
Tianjin |
Ansteel |
3,620 |
536 |
0 |
|||
|
Lecong |
Liuzhou Steel |
3,780 |
560 |
↓70 |
|||
|
Average |
- |
3,673 |
544 |
↓33 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,710 |
550 |
↓20 |
|
Tianjin |
Tangshan Steel |
3,760 |
557 |
0 |
|||
|
Lecong |
Lianyuan Steel |
3,840 |
569 |
↓70 |
|||
|
Average |
- |
3,770 |
559 |
↓30 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.75