In the week ending January 5, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their overall upward trend, while transaction activity in the overall market has been at decent levels. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, although HRC futures prices in China moved down on January 4, which was the first trading day after the New Year holiday (January 1-3), HRC prices in the domestic spot market still continued their rising trend due to the rebound in semi-finished steel prices and the supply shortage in the market. Inventory in the HRC market is at relatively low levels, providing a certain degree of support for domestic HRC prices. It is expected that HRC prices in the Chinese domestic market will likely continue their rising trend in the coming week if supply shortages continue to be observed.
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 |
2,080 |
319 |
↑80 |
Tianjin |
Tangshan Steel |
1,990 |
305 |
↑120 |
|||
Lecong |
Liuzhou Steel |
2,220 |
340 |
↑150 |
|||
Average |
- |
2,097 |
321 |
↑117 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,120 |
325 |
0 |
Tianjin |
Tangshan Steel |
2,070 |
317 |
↑120 |
|||
Lecong |
Lianyuan Steel |
2,220 |
340 |
↑120 |
|||
Average |
- |
2,137 |
327 |
↑80 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.53