During the week ending April 12, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a significant increase, while transaction activity in the overall market is at decent levels . Average HRC prices in the local Chinese market are presented in the following table.
During the given week, domestic semi-finished steel prices have risen sharply and HRC futures prices in China have indicated upward movement, both providing support for HRC prices in the domestic spot market. At the beginning of the given week, downstream buyers were willing to buy, while they showed greater caution later in the week amid the sharp rises in prices. It is expected that HRC prices in the Chinese domestic market will move sideways 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 | 2,770 | 1,126 | ↑250 |
| Tianjin | Tangshan Steel | 2,800 | 1,138 | ↑180 | |||
| Lecong | Liuzhou Steel | 2,750 | 1,118 | ↑210 | |||
| Average | - | 2,774 | 1,128 | ↑214 | |||
| Thin HRC | 2.75 mm x 1.,250 mm x C | Q235B | Shanghai | Tangshan Steel | 2,860 | 1,163 | ↑230 |
| Tianjin | Tangshan Steel | 2,900 | 1,179 | ↑220 | |||
| Lecong | Lianyuan Steel | 2,880 | 1,171 | ↑220 | |||
| Average | - | 2,880 | 1,171 | ↑223 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.46