In the week ending July 7, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their downward movement, while transaction activity in the overall market has remained slack. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, the local HRC market has been negatively impacted by significant declines in futures prices of iron ore and rebar against the backdrop of sharp declines in the Shanghai Stock Market. Meanwhile, HRC prices in the Tianjin market have now declined for nine consecutive weeks and may bottom out at around RMB 2,000/mt ($322/mt). Traders' reduced HRC prices in the domestic market have failed to attract improved transaction activity, with bearish sentiment prevailing among market participants. It is thought that HRC prices in the Chinese domestic market will likely edge down further in the coming week.
Product Name |
Spec. |
Category |
City |
Steel Plant/Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Medium HRC |
5.75 mm x 1,500 mm x C |
Q235B/SS400 |
Shanghai |
Tangshan Steel |
2,000 |
322 |
↓170 |
Tianjin |
Tangshan Steel |
2,020 |
325 |
↓100 |
|||
Lecong |
Liuzhou Steel |
2,080 |
335 |
↓170 |
|||
Average |
- |
2,033 |
327 |
↓147 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,300 |
370 |
↓90 |
Tianjin |
Tangshan Steel |
2,120 |
341 |
↓140 |
|||
Lecong |
Lianyuan Steel |
2,350 |
378 |
↓220 |
|||
Average |
- |
2,257 |
363 |
↓150 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21