In the week ending January 26, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a slight downtrend, 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, some end-users have started to exit the market ahead of the Chinese New Year holiday (February 8-14) and so traders have been more inclined to keep their prices stable. However, due to the cold weather conditions which have hit the whole country, demand has been slacker than in the previous week, resulting in slight decreases in HRC prices in the domestic spot market. As the Chinese New Year holiday approaches, activity in the domestic HRC market will become even quieter in the coming period. 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. |
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 |
2,000 |
304 |
↓10 |
Tianjin |
Tangshan Steel |
1,930 |
293 |
0 |
|||
Lecong |
Liuzhou Steel |
2,070 |
315 |
0 |
|||
Average |
- |
2,000 |
304 |
↓3 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,040 |
310 |
↓20 |
Tianjin |
Tangshan Steel |
2,000 |
304 |
↑20 |
|||
Lecong |
Lianyuan Steel |
2,170 |
330 |
0 |
|||
Average |
- |
2,070 |
315 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.58