During the week ending November 23, the Chinese domestic cold rolled coil (CRC) market has continued to move up, 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 still exists in the Chinese domestic CRC market, providing solid support for CRC prices. Moreover, ferrous metal futures prices in China have indicated sharp rises in recent days, boosting CRC prices in the spot market. Currently, amid cold and snowy weather conditions, road freight charges have increased, which will push up the cost of products. Meanwhile, inventories of CRC held by traders are at relatively low levels and so traders have been seeking to raise their offer prices, with some of them even unwilling to sell as they want to sell at a better price later. 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 |
4,380 |
635 |
↑50 |
Tianjin |
Tangshan Steel |
4,140 |
600 |
↑20 |
|||
Lecong |
MaSteel |
4,400 |
638 |
0 |
|||
Average |
- |
4,307 |
624 |
↑24 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,350 |
630 |
↑10 |
Tianjin |
Anshan Steel |
4,460 |
646 |
↑10 |
|||
Lecong |
Anshan Steel |
4,420 |
641 |
0 |
|||
Average |
- |
4,410 |
639 |
↑7 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.90 RMB