During the week ending May 24, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a decreasing trend, while transaction activity in the overall market has been at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, due to slack demand and the declines seen in HRC futures prices, downstream buyers of HRC have mostly been maintaining a wait-and-see stance and are only concluding purchases to meet immediate production needs. Since demand is unlikely to improve in the short term and is also expected to be quieter during the coming hot summer season, it is thought that HRC prices in the Chinese domestic market will likely move sideways or indicate a slight downtrend 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 |
2,510 |
383 |
↓100 |
Tianjin |
Tangshan Steel |
2,440 |
372 |
↓90 |
|||
Lecong |
Liuzhou Steel |
2,700 |
412 |
↓20 |
|||
Average |
- |
2,550 |
389 |
↓70 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,750 |
419 |
↓80 |
Tianjin |
Tangshan Steel |
2,620 |
399 |
↓80 |
|||
Lecong |
Lianyuan Steel |
2,840 |
433 |
↓60 |
|||
Average |
- |
2,737 |
417 |
↓73 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.56