During the week ending December 4, average hot rolled coil (HRC) prices in the Chinese domestic market have rebounded, 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, domestic HRC prices first decreased but later rebounded due to the freeze on new tariffs and agreement to hold further talks reached by China and the US. These developments have exerted a positive impact on China’s futures market and stock market and have boosted confidence. Accordingly, semi-finished steel producers in China have increased their offer prices, boosting HRC prices in the spot market. However, demand from downstream users has not shown any significant improvement, which will limit the rising movement of HRC prices. It is expected 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 |
3,690 |
539 |
↑100 |
|
Tianjin |
Ansteel |
3,630 |
531 |
↑130 |
|||
|
Lecong |
Liuzhou Steel |
3,820 |
558 |
↑190 |
|||
|
Average |
- |
3,713 |
543 |
↑140 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,890 |
569 |
↑220 |
|
Tianjin |
Tangshan Steel |
3,790 |
554 |
↑160 |
|||
|
Lecong |
Lianyuan Steel |
3,930 |
575 |
↑260 |
|||
|
Average |
- |
3,870 |
566 |
↑213 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.84