As of December 12, average hot rolled coil (HRC) prices in the Chinese domestic market have increased slightly week on week, while transaction 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.
HRC futures prices in China declined significantly at the beginning of the given week, exerting a negative impact on the domestic HRC market, though HRC futures prices started to recover as of the middle of the week, providing support for increases in HRC spot prices. Meanwhile, increases in semi-finished steel prices in most regions of China have also provided support for HRC prices. However, downstream users of HRC have mostly maintained a wait-and-see stance and have been cautious about concluding purchases. At the same time, HRC inventories are at relatively low levels, with some traders running short of supplies. It is thought 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 |
4,300 |
650 |
↑20 |
|
Tianjin |
Ansteel |
4,400 |
665 |
0 |
|||
|
Lecong |
Liuzhou Steel |
4,450 |
672 |
↑10 |
|||
|
Average |
- |
4,383 |
662 |
↑10 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,530 |
684 |
↑10 |
|
Tianjin |
Tangshan Steel |
4,500 |
680 |
0 |
|||
|
Lecong |
Lianyuan Steel |
4,620 |
698 |
↑60 |
|||
|
Average |
- |
4,550 |
687 |
↑23 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.62