During the week ending December 7, the Chinese domestic cold rolled coil (CRC) markets have indicated a rising trend, while transaction activity in the overall market has been at low-to-medium 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 have indicated an overall upward trend, providing support for CRC prices in the spot market. Meanwhile, CRC supplies arriving in the market have been on the low side, which has also bolstered CRC prices. However, sellers in the CRC market have been more willing to sell compared to last week given the increases already seen in prices and also due to their desire to bring in cash. It is thought that CRC prices in the Chinese domestic market will likely continue to move in an upward direction 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 | 4,650 | 676 | ↑120 |
| Tianjin | Tangshan Steel | 4,380 | 637 | ↑80 | |||
| Lecong | MaSteel | 4,630 | 673 | ↑0 | |||
| Average | - | 4,553 | 662 | ↑66 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,630 | 673 | ↑110 |
| Tianjin | Anshan Steel | 4,600 | 669 | ↑50 | |||
| Lecong | Anshan Steel | 4,650 | 676 | 0 | |||
| Average | - | 4,627 | 673 | ↑54 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.88 RMB