During the week ending July 11, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their upward trend, while transaction activity in the market has been at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, due to increases in ferrous metals futures prices in China, prices in the domestic HRC spot market have also moved up amid optimistic sentiment. However, following the rapid rises seen in HRC prices, downstream users have become more cautious about making purchases. Currently, inventory levels in the HRC market are at relatively low levels, providing support for HRC prices. It is thought that HRC prices in the Chinese domestic market will likely move up further in the coming week.
|
Product Name |
Spec. |
Quality |
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 |
3,800 |
559 |
↑60 |
|
Tianjin |
Ansteel |
3,680 |
541 |
↑90 |
|||
|
Lecong |
Liuzhou Steel |
3,760 |
553 |
↑80 |
|||
|
Average |
- |
3,747 |
551 |
↑77 |
|||
|
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Ansteel |
3,650 |
537 |
↑50 |
|
Tianjin |
Tangshan Steel |
3,750 |
551 |
↑60 |
|||
|
Lecong |
Lianyuan Steel |
3,810 |
560 |
↑70 |
|||
|
Average |
- |
3,737 |
550 |
↑60 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.80