Wait-and-see mood in local Chinese HRC market

Tuesday, 25 October 2016 13:42:26 (GMT+3)   |   Shanghai
       

During the week ending October 25, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated an upward trend, while transaction activity in the overall market has been slacker than previous week and is now at low-to-medium levels. Average HRC prices in the local Chinese market are presented in the following table.
 
During the given week, average prices of HRC in the Chinese domestic market have moved up, though some traders have kept their prices stable. With the continuous rises seen in HRC prices in recent weeks, downstream users have mostly started to maintain a wait-and-see stance towards the market, resulting in weaker transaction activity. At the same time, with the end of the month approaching, some traders may sell at lower prices to bring in cash. However, HRC futures prices in China have again continued their upward movement after the corrections recorded in recent days. It is thought that HRC prices in the Chinese domestic market will 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

Ansteel

2,880

425

↑10

Tianjin

Ansteel

2,880

425

0

Lecong

Liuzhou Steel

2,930

432

↑10

Average

-

2,897

427

↑7

Thin HRC

2.75 mm x 1.,250 mm x C

Q235B

Shanghai

Ansteel

3,100

457

↑10

Tianjin

Tangshan Steel

2,980

440

↑40

Lecong

Lianyuan Steel

3,030

447

↑20

Average

-

3,037

448,

↑24

 
17 percent VAT is included in all prices and all prices are ex-warehouse.
 
 $1 = RMB 6.78


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