In the week ending January 19, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a declining trend, while transaction activity in the overall market has been at low levels. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, low transaction activity has had a negative impact on domestic HRC offer prices, though increases in HRC futures prices have provided some support for HRC spot prices as of January 18. If HRC futures prices continue their rising trend, market sentiment will improve and will thereby likely have a positive influence on HRC spot prices. 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 |
Tangshan Steel |
2,010 |
305 |
↓70 |
Tianjin |
Tangshan Steel |
1,930 |
293 |
↓60 |
|||
Lecong |
Liuzhou Steel |
2,070 |
315 |
↓150 |
|||
Average |
- |
2,004 |
305 |
↓93 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,060 |
313 |
↓60 |
Tianjin |
Tangshan Steel |
1,980 |
301 |
↓90 |
|||
Lecong |
Lianyuan Steel |
2,170 |
330 |
↓50 |
|||
Average |
- |
2,070 |
315 |
↓67 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.58