As of February 19, average hot rolled coil (HRC) prices in the Chinese domestic market have softened on week-on-week basis, while activity in the market has improved, though still at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following
During the given week, domestic HRC prices first declined, but started to move back up later, though average prices are still lower compared to one week ago. Demand from downstream users has improved a little as buyers have been gradually returning to the market after the holiday. Today, February 19, is the Lantern Festival holiday in China, and is regarded as the end of the Chinese New Year holiday season, and so demand is expected to improve in the near future. However, rainy weather conditions are foreseen to continue in southern and eastern China, which will negatively impact the HRC market. It is thought that HRC prices in the Chinese domestic market will likely rise 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 |
3,750 |
553 |
↓80 |
Tianjin |
Ansteel |
3,740 |
552 |
↓70 |
|||
Lecong |
Liuzhou Steel |
3,790 |
559 |
↓40 |
|||
Average |
- |
3,760 |
555 |
↓63 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q23 5B |
Shanghai |
Ansteel |
3,860 |
569 |
↓60 |
Tianjin |
Tangshan Steel |
3,870 |
571 |
↓40 |
|||
Lecong |
Lianyuan Steel |
3,890 |
574 |
↓40 |
|||
Average |
- |
3,873 |
571 |
↓47 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.78