In the week ending September 15, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a 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 table below.
During the given week, overall transaction activity has remained on the slack side with decreases seen in HRC offers. However, due to production cuts in northern China during the military parade in Beijing, the output volumes of HRC producers have failed to increase significantly. Accordingly, pressures from supply have eased to some degree, providing some support for traders' resistance to significant reductions in their prices. 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 follow a stable trend in the coming period.
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 |
1,920 |
301 |
↓10 |
Tianjin |
Tangshan Steel |
2,000 |
314 |
0 |
|||
Lecong |
Liuzhou Steel |
2,080 |
327 |
↓20 |
|||
Average |
- |
2,000 |
314 |
↓10 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,110 |
331 |
↓60 |
Tianjin |
Tangshan Steel |
2,120 |
333 |
0 |
|||
Lecong |
Lianyuan Steel |
2,260 |
355 |
↓30 |
|||
Average |
- |
2,163 |
340 |
↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.37