In the week ending September 8, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a very slight declining trend, while transaction activity in the overall market has remained at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, although most HRC traders have been unwilling to decrease their sales prices, slack transaction activity has nevertheless forced them to lower their offer prices slightly.
Amid production cuts in northern China to ensure clean environmental conditions for the military parade in Beijing during the recent national holiday, HRC materials have been in a short supply, while it is uncertain whether this will provide sufficient support for a rebound in HRC prices, with market participants deciding to maintain a wait-and-see stance for the time being. With the gradual recovery of production to normal levels, the increased supply will exert a negative impact on the HRC spot market. It is expected that HRC prices in the Chinese domestic market will continue their 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 |
1,930 |
303 |
-30 |
Tianjin |
Tangshan Steel |
2,000 |
314 |
0 |
|||
Lecong |
Liuzhou Steel |
2,100 |
330 |
-30 |
|||
Average |
- |
2,010 |
316 |
-20 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,160 |
339 |
-10 |
Tianjin |
Tangshan Steel |
2,120 |
333 |
0 |
|||
Lecong |
Lianyuan Steel |
2,290 |
359 |
-10 |
|||
Average |
- |
2,190 |
344 |
-7 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.37