During the week ending December 18, average hot rolled coil (HRC) prices in the Chinese domestic market have moved up, 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 prices have edged up due to comparatively low inventory level. Meanwhile, HRC futures prices in Shanghai Futures Exchange (SHFE) have moved up compared to previous week, exerting a positive impact on HRC prices in spot market. However, the demand for HRC will unlikely see improvement. 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 |
3,800 |
551 |
↑100 |
|
Tianjin |
Ansteel |
3,640 |
528 |
↑70 |
|||
|
Lecong |
Liuzhou Steel |
3,910 |
567 |
↑120 |
|||
|
Average |
- |
3,783 |
548 |
↑97 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,930 |
570 |
↑100 |
|
Tianjin |
Tangshan Steel |
3,750 |
543 |
↑40 |
|||
|
Lecong |
Lianyuan Steel |
3,960 |
574 |
↑120 |
|||
|
Average |
- |
3,880 |
562 |
↑87 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.90