During the week ending September 6, average hot rolled coil (HRC) prices for thick specifications in Shanghai have softened, though most other HRC prices in the Chinese domestic market have moved on a stable trend, while transaction activity in the overall market has been at decent levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, more supplies from steelmakers have been arriving in the market, which will probably push up inventory levels in the spot market and exert a negative impact on domestic HRC prices. Meanwhile, HRC futures prices in China have indicated downward corrections, negatively affecting sentiment among HRC traders. However, demand will likely improve in September and October, which is good news for the HRC market. It is thought that HRC prices in the Chinese domestic market will likely move sideways 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 |
2,800 |
419 |
↓40 |
Tianjin |
Tangshan Steel |
2,870 |
430 |
0 |
|||
Lecong |
Liuzhou Steel |
2,940 |
440 |
0 |
|||
Average |
- |
2,870 |
430 |
↓13 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,980 |
446 |
0 |
Tianjin |
Tangshan Steel |
2,930 |
439 |
0 |
|||
Lecong |
Lianyuan Steel |
3,000 |
449 |
0 |
|||
Average |
- |
2,970 |
445 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.68