During the week ending June 11, average hot rolled coil (HRC) prices in the Chinese domestic market have moved 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.
In the first part of the given week, HRC futures prices at Shanghai Futures Exchange (SHFE) moved down, exerting a negative impact on HRC prices in the spot market. However, due to the sharp rises seen in iron ore futures prices on June 10 and June 11, HRC futures prices have increased. However, demand for HRC is slack, while HRC producers are unlikely to cut their outputs, which will negatively affect prices in the HRC market. It is thought that HRC prices in the Chinese domestic market will soften slightly 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 |
3,820 |
553 |
↓60 |
|
Tianjin |
Ansteel |
3,800 |
550 |
↓10 |
|||
|
Lecong |
Liuzhou Steel |
3,860 |
559 |
↓20 |
|||
|
Average |
- |
3,827 |
554 |
↓30 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,930 |
569 |
↓60 |
|
Tianjin |
Tangshan Steel |
3,870 |
560 |
↓20 |
|||
|
Lecong |
Lianyuan Steel |
3,940 |
570 |
↓20 |
|||
|
Average |
- |
3,914 |
566 |
↓33 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.91