Slack activity in local Chinese HRC market

Tuesday, 06 February 2018 16:58:32 (GMT+3)   |   Shanghai
       

During the week ending February 6, average hot rolled coil (HRC) prices in the Chinese domestic market have increased slightly, while transaction activity in the market has been at low levels. Average HRC prices in the local Chinese market are presented in the following table.

During the given week, most HRC traders have been getting ready for the Chinese New Year holiday and have been unwilling to give offers, which has contributed to the slack activity in the domestic HRC market. However, some buyers are still concluding purchases to build up inventories, thereby providing some support for HRC prices in the spot market. As it is getting closer to the holiday, demand will be quiet as many market participants will exit the market this week. It is thought that HRC prices in the Chinese domestic market will likely move on a stable trend 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

4,080

650

↓20

Tianjin

Ansteel

4,040

643

↑50

Lecong

Liuzhou Steel

4,180

666

↑20

Average

-

4,100

653

↑17

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Ansteel

4,170

664

↓30

Tianjin

Tangshan Steel

4,240

675

↑100

Lecong

Lianyuan Steel

4,220

672

↑30

Average

-

4,210

670

↑33

17 percent VAT is included in all prices and all prices are ex-warehouse.

 $1 = RMB 6.28


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