Chinese domestic CRC market moves on slight downtrend

Wednesday, 16 August 2017 14:52:46 (GMT+3)   |   Shanghai
       

During the week ending August 16, the Chinese domestic cold rolled coil (CRC) market has declined slightly, 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, ferrous metals futures prices in China have decreased, exerting a negative impact on the domestic CRC market, while buyers have become a bit more cautious about concluding purchases given the previous rapid increases in prices. However, CRC traders have supplies in hand which they booked in July, June and even in May, resulting in adequate profit margins for now. Accordingly, some traders have been willing to sell at lower prices in order to bring in cash. It is thought that CRC prices in the Chinese domestic market will soften 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

4,620

691

↑40

Tianjin

Tangshan Steel

4,440

664

↓60

Lecong

MaSteel

4,690

701

↓20

Average

 -

4,583

685

↓14

Thin CRS

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

ST12

Shanghai

Anshan Steel

4,660

697

↑10

Tianjin

Anshan Steel

4,650

695

↓60

Lecong

Anshan Steel

4,700

703

↓20

Average

 -

4,670

698

↓23


17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = 6.69 RMB


Tags: Crc Flats Far East 

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