During the week ending June 14, the Chinese domestic cold rolled coil (CRC) market has indicated an 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 following table.
During the given week, traders’ high costs have contributed to the upward movement of domestic CRC market prices, while inventory levels in the market are just at low-to-medium levels even though big traders have been receiving some new supplies from steelmakers. At the same time, the finished steel futures market has been moving in an upward direction, providing support for CRC prices in the spot market. 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 | 3,780 | 556 | ↑20 |
| Tianjin | Tangshan Steel | 3,730 | 549 | ↑80 | |||
| Lecong | MaSteel | 3,820 | 562 | 0 | |||
| Average | - | 3,710 | 546 | ↑33 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,770 | 554 | ↑70 |
| Tianjin | Anshan Steel | 4,010 | 590 | ↑100 | |||
| Lecong | Anshan Steel | 3,840 | 565 | ↓30 | |||
| Average | - | 3,873 | 570 | ↑46 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.80 RMB