During the week ending May 27, prices in the Chinese domestic cold rolled coil (CRC) market have moved on a downward trend, while transaction activity in the overall market has been at low levels. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, CRC traders have been willing to sell at lower prices in order to stimulate transaction activities. Since the weather is getting hotter, activity is expected to slacken on construction sites. In June, demand from the home appliance and automobile industries will likely slow down, reducing support for CRC prices in the local spot market. However, more domestic steelmakers will carry out maintenance work on their cold rolled production lines in June, which will negatively affect output and thereby provide some support for CRC prices. It is expected that CRC prices in the Chinese domestic market will move on a stable trend 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 | 3,000 | 484 | ↓10 |
Tianjin | Tangshan Steel | 2,940 | 474 | ↓40 | |||
Lecong | MaSteel | 3,020 | 487 | ↓80 | |||
Average | - | 2,987 | 482 | ↓43 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,080 | 497 | 0 |
Tianjin | Anshan Steel | 3,300 | 532 | ↓10 | |||
Lecong | Anshan Steel | 3,140 | 506 | ↓80 | |||
Average | - | 3,173 | 512 | ↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20