During the week ending October 19, the Chinese domestic cold rolled coil (CRC) market has continued their upward 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, ferrous metal futures prices in China have indicated a rising trend, exerting a positive impact on CRC prices in the domestic spot market. Meanwhile, inventory levels are low, boosting CRC prices. At the same time, sea freight charges in China have increased sharply recently, causing some steelmakers to hold new tenders for sea transportation of their products. It is thought that this situation may contribute to certain supply shortages in the short term. It is thought that CRC prices in the Chinese domestic market will likely move up further 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 | 3,670 | 545 | ↑100 |
Tianjin | Tangshan Steel | 3,660 | 543 | ↑40 | |||
Lecong | MaSteel | 3,650 | 542 | ↑100 | |||
Average | - | 3,660 | 543 | ↑80 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,680 | 546 | ↑80 |
Tianjin | Anshan Steel | 3,800 | 564 | 0 | |||
Lecong | Anshan Steel | 3,680 | 546 | ↑80 | |||
Average | - | 3,720 | 552 | ↑53 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.74 RMB