During the week ending August 24, the Chinese domestic cold rolled coil (CRC) market has continued its rising trend, while transaction activity in the overall market has been at medium levels. Average cold rolled product prices in the local Chinese market are presented in the table below.
During the given week, the rises in HRC prices in China have provided support for domestic CRC prices. Meanwhile, ferrous metal futures prices in China have continued to increase, exerting a positive impact on sentiment in the local CRC market. In addition, the rises in domestic mills' CRC ex-works prices for September delivery have also contributed to the bullish sentiment in the CRC market. It is thought that CRC prices in the Chinese domestic market will likely continue their upward movement in the coming week.
Product name |
Spec. |
Category |
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 |
3,300 |
495 |
↑50 |
Tianjin |
Tangshan Steel |
3,450 |
518 |
↑50 |
|||
Lecong |
MaSteel |
3,450 |
518 |
↑70 |
|||
Average |
- |
3,400 |
511 |
↑57 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
3,420 |
514 |
↑50 |
Tianjin |
Anshan Steel |
3,710 |
557 |
↑50 |
|||
Lecong |
Anshan Steel |
3,600 |
541 |
↑70 |
|||
Average |
- |
3,577 |
537 |
↑57 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.66 RMB