In the week ending October 20, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a declining trend, while transaction activity in the overall market has been at decent levels but is now slackening. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, the downtrend in HRC futures prices has negatively affected HRC prices in the domestic spot market. Chinese HRC traders mostly hold a pessimistic view of the future prospects for the market. New arrivals in the market are not so plentiful at present, while slackening demand for HRC has been main factor contributing to lower prices. Meanwhile, HRC prices in northern China have indicated larger decreases compared to other regions. It is expected that HRC prices in the Chinese domestic market will likely follow a slight 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 |
1,920 |
302 |
↑10 |
Tianjin |
Tangshan Steel |
1,900 |
299 |
↓70 |
|||
Lecong |
Liuzhou Steel |
2,010 |
317 |
↓10 |
|||
Average |
- |
1,943 |
306 |
↓23 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,080 |
328 |
0 |
Tianjin |
Tangshan Steel |
2,000 |
315 |
↓120 |
|||
Lecong |
Lianyuan Steel |
2,110 |
332 |
↓90 |
|||
Average |
- |
2,063 |
325 |
↓70 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.35