During the week ending September 6, average cold rolled coil (CRC) prices in the Chinese domestic market have increased, 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 and hot rolled coil (HRC) prices in the domestic spot market have increased, providing support for the upward movement of domestic CRC prices. However, downstream users are maintaining a cautious stance towards purchases. Due to support from costs, CRC prices are not expected to indicate large declines, while sharp price rises are unlikely as demand has not improved. It is thought that CRC prices in the Chinese domestic market will likely 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 |
4,810 |
737 |
↑160 |
|
Tianjin |
Tangshan Steel |
4,620 |
708 |
↑100 |
|||
|
Lecong |
MaSteel |
4,910 |
752 |
↑170 |
|||
|
Average |
- |
4,780 |
732 |
↑143 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,810 |
737 |
↑120 |
|
Tianjin |
Anshan Steel |
4,880 |
747 |
↑100 |
|||
|
Lecong |
Anshan Steel |
4,930 |
755 |
↑170 |
|||
|
Average |
- |
4,873 |
746 |
↑130 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.53 RMB