Uptrend in local Chinese HRC market

Tuesday, 18 July 2017 16:32:37 (GMT+3)   |   Shanghai
       

During the week ending July 18, average hot rolled coil (HRC) prices in the Chinese domestic market have continued their uptrend, while transaction activity in the market has been at medium levels. Average HRC prices in the local Chinese market are presented in the following table.

During the given week, inventory level in hot rolled coil market has decreased, providing certain support to HRC prices. Meanwhile, major steel producers have increased their prices, boosting HRC prices in the spot market. At the same time, steel futures market has seen an overall uptrend, also exerting a positive impact on HRC prices in spot market. It is thought that HRC prices in the Chinese domestic market will likely maintain the uptrend 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

3,820

565

↑20

Tianjin

Ansteel

3,760

556

↑80

Lecong

Liuzhou Steel

3,870

572

↑110

Average

-

3,817

565

↑70

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Ansteel

3,900

577

↑250

Tianjin

Tangshan Steel

3,830

567

↑80

Lecong

Lianyuan Steel

3,930

581

↑120

Average

-

3,887

575

↑150

 

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

$1 = RMB 6.76


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