During the week ending March 15, average hot rolled coil (HRC) prices in the Chinese domestic market have indicated a downward trend, while transaction activity in the overall market has slackened and is now at low levels. Average HRC prices in the local Chinese market are presented in the table below.
During the given week, after the previous sharp rising trend, HRC futures prices in China have softened, contributing to declines in HRC offer prices in the spot market. Market players' confidence has been negatively affected by the poor performance of the futures market. Meanwhile, local HRC traders are under strong pressure due to financial tightness and so they have lowered their sales prices in order to bring in funds. However, steelmakers will likely increase their ex-works prices for April, which will provide some support for HRC prices. It is thought that HRC prices in the Chinese domestic market will likely indicate corrections in the coming week, though with limited decrease margins.
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 |
2,300 |
353 |
↓200 |
Tianjin |
Tangshan Steel |
2,260 |
347 |
↓290 |
|||
Lecong |
Liuzhou Steel |
2,310 |
355 |
↓200 |
|||
Average |
- |
2,290 |
352 |
↓220 |
|||
Thin HRC |
2.75 mm x 1.,250 mm x C |
Q235B |
Shanghai |
Tangshan Steel |
2,450 |
376 |
↓90 |
Tianjin |
Tangshan Steel |
2,470 |
379 |
↓180 |
|||
Lecong |
Lianyuan Steel |
2,470 |
379 |
↓100 |
|||
Average |
- |
2,463 |
378 |
↓123 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.51