During the week ending July 12, the Chinese domestic cold rolled coil (CRC) market has continued to indicate an upward 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, inventory levels of CRC have declined, providing support for domestic CRC prices. Meanwhile, major Chinese producer Baosteel issued its prices for August shipment on July 11, increasing its CRC prices by RMB 100/mt, exerting a positive impact on the CRC market. However, the hot weather conditions in China have begun to negatively affect demand from downstream users. 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 |
4,170 |
614 |
↑100 |
|
Tianjin |
Tangshan Steel |
4,140 |
610 |
↑110 |
|||
|
Lecong |
MaSteel |
4,270 |
629 |
↑50 |
|||
|
Average |
- |
4,193 |
618 |
↑87 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,190 |
617 |
↑80 |
|
Tianjin |
Anshan Steel |
4,380 |
645 |
↑80 |
|||
|
Lecong |
Anshan Steel |
4,280 |
630 |
↑50 |
|||
|
Average |
- |
4,283 |
631 |
↑70 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.79 RMB