During the week ending June 24, prices in the Chinese domestic cold rolled coil (CRC) market have decreased, while transaction activity in the overall market has been slack. Average CRC prices in the local Chinese market are presented in the table below
Due to the recent Dragon Boat Festival, local CRC prices in China first moved on a stable trend during the past week, but then started to move down due to the arrival of significant volumes of new CRC supplies in the market. Demand from downstream users has been slack due to the ongoing rainy weather conditions. Meanwhile, CRC supplies to the market are expected to increase as some steelmakers have completed their maintenance works and will start producing again. It is expected that CRC prices in the Chinese domestic market will continue their downward movement 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 | 2,940 | 473 | ↓40 |
Tianjin | Tangshan Steel | 2,700 | 435 | ↓100 | |||
Lecong | MaSteel | 2,880 | 464 | ↓20 | |||
Average | - | 2,840 | 457 | ↓53 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,000 | 483 | 0 |
Tianjin | Anshan Steel | 3,040 | 490 | ↓10 | |||
Lecong | Anshan Steel | 2,920 | 470 | 0 | |||
Average | - | 2,987 | 481 | ↓3 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21