Local Chinese HRC prices move down

Tuesday, 06 August 2019 13:55:52 (GMT+3)   |   Shanghai
       

During the week ending August 6, average hot rolled coil (HRC) prices in the Chinese domestic market have declined, 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, Chinese HRC producers’ capacity utilization rates have been at relatively high levels, while demand for HRC during the current hot summer season has not shown any improvement. At the same time, iron ore prices have softened, while HRC futures prices at Shanghai Futures Exchange (SHFE) have decreased, with these developments exerting a negative impact on HRC prices in the domestic spot market. It is thought that HRC prices in the Chinese domestic market will likely edge down 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

3,700

526

↓110

Tianjin

Ansteel

3,780

537

↓70

Lecong

Liuzhou Steel

3,820

543

↓110

Average

-

3,766

535

↓97

Thin HRC

2.75 mm x 1,250 mm x C

Q23 5B

Shanghai

Ansteel

3,830

544

↓100

Tianjin

Tangshan Steel

3,840

545

↓60

Lecong

Lianyuan Steel

3,940

560

↓80

Average

-

3,870

550

↓80

13 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 7.04


Most Recent Related Articles

Ex-China CRC prices continue to rise as local market still strong

Ex-China HRC prices up slightly again, though domestic demand not so strong

More suppliers target plate sales to China, domestic and export prices keep rising

Inventories of five main finished steel products in China up 1.4% in late July

Chinese domestic PPGI prices move sideways