During the week ending March 5, average hot rolled coil (HRC) prices in the Chinese domestic market have moved upwards, while activity in the market has improved, now at 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 fluctuated at relatively high levels. Demand from downstream HRC users has improved and sentiment in the local HRC market is now upbeat. Meanwhile, some producers have been carrying out maintenance works amid production cuts enforced by environmental protection measures, which will reduce HRC supply and exert a positive impact on HRC prices. It is expected that HRC prices in the Chinese domestic market will increase 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 |
3,850 |
575 |
↑50 |
|
Tianjin |
Ansteel |
3,810 |
569 |
↑60 |
|||
|
Lecong |
Liuzhou Steel |
3,890 |
581 |
↑40 |
|||
|
Average |
- |
3,850 |
575 |
↑50 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,940 |
588 |
↑30 |
|
Tianjin |
Tangshan Steel |
3,940 |
588 |
↑60 |
|||
|
Lecong |
Lianyuan Steel |
3,950 |
590 |
↑30 |
|||
|
Average |
- |
3,943 |
589 |
↑40 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.70