China’s HRC prices fall by RMB 40/t ($6/t)

China’s HRC prices fell by RMB 40/t ($6/t) while CRC prices remained unchanged compared to the previous assessment on 26 Aug’22. According to SteelMint data, SHFE HRC futures for Oct’22 delivery settled today at RMB 4,004/t ($579/t), down by RMB 40/t ($6/t) from the closing on 26 Aug’22. Current prices-

• HRC (4.5-12mm, Q235 B): RMB 3,980/t ($575/t)
• CRC (1-1.2mm, Q195-215A): RMB 4,395/t ($635/t)
• Prices are exw-Tianjin basis, inclusive of 13% VAT.