During the week ending May 28, average hot rolled coil (HRC) prices in the Chinese domestic market have edged down slightly, 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, due to the slack demand from downstream users, HRC prices in China have softened slightly, even though HRC futures prices at Shanghai Futures Market (SHFE) have increased influenced by the sharp rising trend of iron ore futures prices at Dalian Commodity Exchange (DCE). As sentiment is pessimistic as regards the prospects for the future trend of the HRC market, HRC sellers have been willing to sell at lower prices. On the other hand, the sharp rises in iron ore prices will provide some support for HRC prices. It is expected that HRC prices in the Chinese domestic market will move down 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 |
4,000 |
579 |
↓10 |
Tianjin |
Ansteel |
3,940 |
570 |
↑30 |
|||
Lecong |
Liuzhou Steel |
3,960 |
573 |
↓30 |
|||
Average |
- |
3,967 |
574 |
↓3 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
4,070 |
589 |
↓20 |
Tianjin |
Tangshan Steel |
3,970 |
575 |
↓20 |
|||
Lecong |
Lianyuan Steel |
4,040 |
585 |
↓30 |
|||
Average |
- |
4,027 |
583 |
↓23 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.91