During the week ending November 2, the Chinese domestic cold rolled coil (CRC) market has continued to move on 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, HRC futures prices in China have increased, boosting CRC prices in the domestic spot market. Meanwhile, inventory levels in the CRC market are at relatively low levels, also providing support for CRC prices. With supplies in the spot market on the short side, many CRC sellers have been reluctant to sell as they are waiting to see better prices later. Supplies arriving in the market are expected to be limited in the short term. It is thought that CRC prices in the Chinese domestic market will move up further 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 | 3,910 | 578 | ↑110 |
| Tianjin | Tangshan Steel | 3,790 | 561 | ↑100 | |||
| Lecong | MaSteel | 3,940 | 583 | ↑190 | |||
| Average | - | 3,880 | 574 | ↑133 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,930 | 581 | ↑120 |
| Tianjin | Anshan Steel | 4,000 | 592 | ↑200 | |||
| Lecong | Anshan Steel | 3,980 | 589 | ↑200 | |||
| Average | - | 3,970 | 587 | ↑173 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.76 RMB