During the week ending May 10, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have declined, 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, the significant declines in the Chinese ferrous metal futures market have contributed to the decreases in domestic CRC prices. Meanwhile, demand from downstream buyers has slackened. However, inventory levels of CRC have decreased, providing some support for prices. Against the backdrop of the 20 days of steel production restrictions in the Beijing-Tianjin-Hebei region due to the One Belt One Road Forum (BRF) to be held in Beijing in mid-May, it is thought that CRC prices in the Chinese domestic market will likely move on a fluctuating trend 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 |
3,600 |
522 |
↓80 |
Tianjin |
Tangshan Steel |
3,570 |
517 |
↓170 |
|||
Lecong |
MaSteel |
3,780 |
548 |
↓80 |
|||
Average |
- |
3,650 |
529 |
↓110 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
3,660 |
530 |
↓120 |
Tianjin |
Anshan Steel |
3,710 |
538 |
↓230 |
|||
Lecong |
Anshan Steel |
3,850 |
558 |
↓70 |
|||
Average |
- |
3,740 |
542 |
↓140 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.90 RMB