Chinese domestic CRC market impacted by adverse weather conditions

Wednesday, 20 July 2016 17:05:09 (GMT+3)   |   Shanghai
       


During the week ending July 20, in the Chinese domestic market average cold rolled coil (CRC) prices have indicated a downward 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 table below.
 
During the given week, the sharp declines seen in HRC futures prices in China have contributed to the downward movement of domestic CRC prices. Meanwhile, hot weather in eastern and southern China and heavy rainfall in northern China have negatively impacted demand for CRC. It is thought that CRC prices in the Chinese domestic market will likely move on a slight downtrend 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

3,040

456

0

Tianjin

Tangshan Steel

2,820

423

90

Lecong

MaSteel

3,050

457

0

Average

 -

2,970

445

30

Thin CRS

1.0 mm x 1,250mm x 2,500 mm

ST12

Shanghai

Anshan Steel

3,160

474

70

Tianjin

Anshan Steel

3,330

499

200

Lecong

Anshan Steel

3,380

507

0

Average

 -

3,290

493

90

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = 6.67 RMB


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