During the week ending November 29, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated an upward trend, while transaction activity in the overall market has been better than the previous week and is now at medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, due to the continuous increases in HRC futures prices and raw material prices, HRC prices in the domestic spot market have indicated significant upward movement. Production restrictions for environmental protection in China’s northern region provide support for HRC prices in the spot market, while HRC inventories in the spot market are at relatively low levels, which will also exert a positive impact on HRC prices. All these factors have boosted sentiment in the market. It is expected that HRC prices in the Chinese domestic market will likely continue to follow a rising trend 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 | Ansteel | 3,550 | 515 | ↑230 |
| Tianjin | Ansteel | 3,480 | 505 | ↑250 | |||
| Lecong | Liuzhou Steel | 3,750 | 544 | ↑440 | |||
| Average | - | 3,593 | 521 | ↑306 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Ansteel | 3,640 | 528 | ↑230 |
| Tianjin | Tangshan Steel | 3,690 | 536 | ↑250 | |||
| Lecong | Lianyuan Steel | 3,830 | 556 | ↑440 | |||
| Average | - | 3,720 | 540 | ↑307 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89