During the week ending September 20, average cold rolled coil (CRC) prices in the Chinese domestic market have decreased, 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, ferrous metals futures prices in China have indicated a downward trend, exerting a negative impact on CRC prices in the domestic spot market. Currently, good expectations for the traditional peak season in September has come to nothing, while market players are mostly maintaining a wait-and-see stance towards the future prospects for the market. Moreover, traders’ sales prices of CRC in the spot market are around RMB 200/mt ($31/mt) lower than the cost of booking CRC from steel mills for October shipment, and so traders are unwilling to decrease their prices significantly. Meanwhile, environmental protection measures have been introduced in Handan, Hebei Province, to stop sintering activities, which will likely curb steel supply and provide support for steel prices in the future. It is thought that CRC prices in the Chinese domestic market will likely halt their declining trend and move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,640 |
706 |
↓110 |
|
Tianjin |
Tangshan Steel |
4,610 |
702 |
↓10 |
|||
|
Lecong |
MaSteel |
4,700 |
715 |
↓140 |
|||
|
Average |
- |
4,650 |
708 |
↓87 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,660 |
709 |
↓80 |
|
Tianjin |
Anshan Steel |
4,870 |
741 |
↓10 |
|||
|
Lecong |
Anshan Steel |
4,730 |
720 |
↓150 |
|||
|
Average |
- |
4,753 |
723 |
↓80 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.57 RMB