During the week ending August 23, 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, following downward corrections in CRC prices in the previous week, downstream users have been more willing to conclude purchases. Meanwhile, demand for CRC from downstream users will also improve in the coming traditional peak season in September and October and so market players are optimistic as regards the future prospects for the CRC market. However, as the end of the current month is approaching, some traders may be under pressure to reduce their prices due to tight liquidity. 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 |
4,590 |
689 |
↓30 |
|
Tianjin |
Tangshan Steel |
4,530 |
680 |
↑90 |
|||
|
Lecong |
MaSteel |
4,730 |
710 |
↑40 |
|||
|
Average |
- |
4,617 |
693 |
↑33 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,670 |
701 |
↑10 |
|
Tianjin |
Anshan Steel |
4,790 |
719 |
↑140 |
|||
|
Lecong |
Anshan Steel |
4,740 |
712 |
↑40 |
|||
|
Average |
- |
4,733 |
711 |
↑63 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.66 RMB