During the week ending July 19, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a downward trend, while transaction activity in the overall market is still on the slack side. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, bearish sentiment has prevailed among traders in the domestic HRC market, resulting in the declining trend of HRC prices and a slackening of transaction activity. Meanwhile, the decreasing trends in ferrous metal product futures prices in China have exerted a negative impact on the domestic HRC spot market. Although there is insufficient supply in the HRC market at present, the traditional offseason for business has still had a negatively influence on HRC prices. It is thought that HRC prices in the Chinese domestic market will likely continue their downtrend 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 | 2,570 | 384 | ↓50 |
Tianjin | Tangshan Steel | 2,540 | 380 | ↓60 | |||
Lecong | Liuzhou Steel | 2,700 | 404 | ↔0 | |||
Average | - | 2,603 | 389 | ↓37 | |||
Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 2,610 | 390 | ↓100 |
Tianjin | Tangshan Steel | 2,680 | 401 | ↑20 | |||
Lecong | Lianyuan Steel | 2,790 | 417 | ↔0 | |||
Average | - | 2,693 | 403 | ↓27 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.69