In the week ending June 16, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated downward movement, while transaction activity in the overall market has been slack. Average HRC prices in the local Chinese market are presented in the following table.
During the given week, significant volumes of HRC products have been arriving in the market, contributing to the declining trend of HRC prices amid slack demand. Meanwhile, major Chinese steelmaker Baosteel has issued its prices for July delivery, reducing its HRC prices by RMB 80/mt ($12.9/mt), with this decrease exerting a negative impact on HRC market prices. Local HRC traders lack confidence in the future prospects for the market and have been choosing to sell at lower prices in order to bring in funds. However, the rainy weather conditions have impacted demand. It is expected that HRC prices in the Chinese domestic market will continue their downward trend in the coming week.
Product Name |
Spec. |
Category |
City |
Steel Plant/Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Medium HRC |
5.75 mm x 1,500 mm x C |
Q235B/SS400 |
Shanghai |
Tangshan Steel |
2,330 |
375 |
↓30 |
Tianjin |
Tangshan Steel |
2,250 |
362 |
↓90 |
|||
Lecong |
Liuzhou Steel |
2,420 |
390 |
↓60 |
|||
Average |
- |
2,333 |
376 |
↓60 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,430 |
391 |
0 |
Tianjin |
Tangshan Steel |
2,340 |
377 |
↓160 |
|||
Lecong |
Lianyuan Steel |
2,600 |
419 |
0 |
|||
Average |
- |
2,457 |
396 |
↓53 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21