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