During the week ending February 8, the Chinese domestic cold rolled coil (CRC) market has indicated a declining trend, while transaction activity in the overall market has been at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, ferrous metal futures prices in China indicated a downward movement on the first day after the holiday, exerting pressure on CRC spot prices. Meanwhile, semi-finished steel prices in the Tangshan region have softened, also impacting the domestic cold rolled coil market. Furthermore, most CRC traders in the spot market have come under pressure from rising inventory levels and so they have lowered their offer prices. However, demand from downstream users is expected to recover after the Lantern Festival (February 11). It is thought that CRC prices in the Chinese domestic market will likely move sideways in the coming week.
Product name | Spec. | Quality | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 4,820 | 702 | ↓40 |
Tianjin | Tangshan Steel | 4,440 | 646 | ↓40 | |||
Lecong | MaSteel | 4,820 | 702 | 0 | |||
Average | - | 4,693 | 683 | ↓40 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,810 | 700 | ↓50 |
Tianjin | Anshan Steel | 5,200 | 757 | 0 | |||
Lecong | Anshan Steel | 4,810 | 700 | 0 | |||
Average | - | 4,940 | 719 | ↓16 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB