Chinese domestic CRC market supported by short supply

Wednesday, 30 November 2016 15:49:00 (GMT+3)   |   Shanghai
       

During the week ending November 30, the Chinese domestic cold rolled coil (CRC) markets have indicated a rising 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, a supply shortage has continued to be observed in the Chinese domestic CRC market, providing solid support for CRC prices. In the last two days, ferrous metal futures prices in China have softened, which will exert negative pressure on CRC prices in the spot market. However, as CRC inventories are on the low side, traders are unwilling to reduce their offer prices and are mostly maintaining a wait-and-see stance. It is thought that CRC prices in the Chinese domestic market will likely move sideways 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

4,530

657

150

Tianjin

Tangshan Steel

4,300

624

160

Lecong

MaSteel

4,630

672

230

Average

 -

4,487

651

180

Thin CRS

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

ST12

Shanghai

Anshan Steel

4,520

656

170

Tianjin

Anshan Steel

4,550

660

90

Lecong

Anshan Steel

4,650

675

230

Average

 -

4,573

664

163

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = 6.89 RMB


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