During the week ending July 27, in the Chinese domestic market average cold rolled coil (CRC) prices have increased, 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 following table.
During the given week, inventory levels of CRC in the domestic spot market have been at relatively low levels, while demand though at low levels has not slackened further but has stabilized, thereby providing some support for CRC prices. Steelmakers want to increase their CRC sales prices, thus also supporting the upward movement of CRC market prices. The recent rainy weather in northern China has negatively affected circulation of supplies, reducing supply to the market. In this context, ferrous metal futures prices have risen over the past several days due to improved confidence among market players. It is thought that CRC prices in the Chinese domestic market will likely edge up 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 | 2,880 | 432 | ↑60 | |||
| Lecong | MaSteel | 3,100 | 465 | ↑50 | |||
| Average | - | 3,007 | 451 | ↑37 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,170 | 475 | ↑10 |
| Tianjin | Anshan Steel | 3,380 | 507 | ↑50 | |||
| Lecong | Anshan Steel | 3,430 | 514 | ↑50 | |||
| Average | - | 3,327 | 499 | ↑37 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.67 RMB