During the week ending August 2, average hot rolled coil (HRC) prices in the Chinese domestic market have continued to move up, while transaction activity in the overall market has been better compared to the previous week, though remaining on the slack side. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, inventory levels of HRC in China have declined, providing a certain degree of support for domestic HRC prices. Most players in the domestic market think that demand in August will not slacken compared to July and will improve in September, and so they more optimistic as regards the future prospects for the market. Meanwhile, HRC futures prices in China have increased, providing support for the HRC spot market. It is thought that HRC prices in the Chinese domestic market will continue to increase 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 | 2,680 | 404 | ↑90 |
| Tianjin | Tangshan Steel | 2,660 | 401 | ↑80 | |||
| Lecong | Liuzhou Steel | 2,750 | 414 | ↑20 | |||
| Average | - | 2,697 | 406 | ↑64 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 2,740 | 413 | ↑90 |
| Tianjin | Tangshan Steel | 2,700 | 407 | ↑50 | |||
| Lecong | Lianyuan Steel | 2,810 | 423 | ↑20 | |||
| Average | - | 2,750 | 414 | ↑53 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.64