In the week ending September 1, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a very slight declining trend, while transaction activity in the overall market has remained at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, iron ore prices have suspended their downward movement, while HRC futures prices have continued to indicate a decreasing trend. Due to the approach of the holiday (Sept. 3-6) marking the 70th anniversary of victory in the war against Japan, steelmakers in northern China have implemented maintenance works, partially affecting HRC output and thereby providing a certain degree of support for HRC prices, while resumption of normal production levels after the holiday will likely exert a negative impact on HRC prices. It is thought that HRC prices in the Chinese domestic market will continue their slightly soft trend in the coming week, while market participants are mostly expected to maintain a wait-and-see stance.
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 |
1,960 |
308 |
↑40 |
Tianjin |
Tangshan Steel |
2,000 |
314 |
0 |
|||
Lecong |
Liuzhou Steel |
2,130 |
335 |
↓20 |
|||
Average |
- |
2,030 |
319 |
↑7 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,170 |
341 |
↑10 |
Tianjin |
Tangshan Steel |
2,120 |
333 |
0 |
|||
Lecong |
Lianyuan Steel |
2,300 |
362 |
↓20 |
|||
Average |
- |
2,197 |
345 |
↓3 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.36