As of March 6, average hot rolled coil (HRC) prices in the Chinese domestic market have decreased slightly week on week, while activity in the market has remained at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, HRC prices first moved upwards but declined later in the week as some traders decided to sell in order to bring in cash. Demand from downstream users will be better in the coming period as the weather gets warmer and construction activity picks up. Meanwhile, due to news of further environmental protection measures, market participants are still optimistic as regards the future prospects for the HRC price trend. It is thought that HRC prices in the Chinese domestic market will likely increase 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 |
4,310 |
680 |
↑160 |
|
Tianjin |
Ansteel |
4,060 |
640 |
↓80 |
|||
|
Lecong |
Liuzhou Steel |
4,150 |
655 |
↓110 |
|||
|
Average |
- |
4,173 |
658 |
↓10 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
4,330 |
683 |
↑80 |
|
Tianjin |
Tangshan Steel |
4,250 |
670 |
↓60 |
|||
|
Lecong |
Lianyuan Steel |
4,220 |
666 |
↓70 |
|||
|
Average |
- |
4,266 |
673 |
↓17 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.34