During the week ending December 11, average hot rolled coil (HRC) prices in the Chinese domestic market have edged down, 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 declined, exerting a negative impact on HRC prices in the domestic spot market. A wait-and-see stance prevails among market players as they wait to gain a clearer picture of the prospects for the market. Meanwhile, major domestic steelmaker Baosteel has issued its ex-works prices for January delivery, decreasing its HRC prices by RMB 300/mt ($43.2/mt), which will negatively affect the HRC market. Moreover, cold and snowy weather conditions have hit China, resulting in a slackening of demand for HRC. It is expected that HRC prices in the Chinese domestic market will move sideways in the coming week.
|
Product Name |
Spec. |
Quality |
City |
Steel Plant/Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
Medium HRC |
5.75 mm x 1,500 mm x C |
Q235B/SS400 |
Shanghai |
Ansteel |
3,700 |
536 |
↑10 |
|
Tianjin |
Ansteel |
3,570 |
517 |
↓60 |
|||
|
Lecong |
Liuzhou Steel |
3,790 |
549 |
↓30 |
|||
|
Average |
- |
3,686 |
534 |
↓27 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,830 |
555 |
↓60 |
|
Tianjin |
Tangshan Steel |
3,710 |
538 |
↓80 |
|||
|
Lecong |
Lianyuan Steel |
3,840 |
557 |
↓90 |
|||
|
Average |
- |
3,793 |
550 |
↓77 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.90