During the week ending March 1, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated various trends, with thick specifications seeing declines and thin specifications indicating rises, while transaction activity in the overall market has been better compared to the previous week, though still remaining on the slack side. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, following previous rises in HRC prices, transaction activities has still been weak, resulting in some declines in thick specifications. Meanwhile, after the Chinese New Year, downstream users have purchased certain volume of resources, which limited the purchasing activities now, especially against the background that HRC prices have seen some corrections, users from downstream industries will likely hold a wait-and-see stance in a short term. It is expected that HRC prices 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 |
2,100 |
321 |
0 |
Tianjin |
Tangshan Steel |
2,030 |
310 |
↓30 |
|||
Lecong |
Liuzhou Steel |
2,150 |
328 |
↓50 |
|||
Average |
- |
2,094 |
320 |
↓26 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,310 |
353 |
↑180 |
Tianjin |
Tangshan Steel |
2,110 |
322 |
0 |
|||
Lecong |
Lianyuan Steel |
2,150 |
328 |
↓100 |
|||
Average |
- |
2,190 |
334 |
↑27 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.55