During the week ending July 1, prices in the Chinese domestic cold rolled coil (CRC) market have continued their declining trend, while transaction activity in the overall market has remained slack. Average CRC prices in the local Chinese market are presented in the table below.
During the given week, although the People's Bank of China (PBOC) has lowered benchmark interest rates and cut the deposit reserve ratio for certain banks, participants in the local CRC market have remained pessimistic and domestic CRC prices have continued to soften. Meanwhile, demand from downstream users has remained sluggish amid the ongoing rainy weather. It is expected that CRC prices in the Chinese domestic market will remain on a downward 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 | 2,920 | 471 | ↓20 |
Tianjin | Tangshan Steel | 2,630 | 424 | ↓70 | |||
Lecong | MaSteel | 2,830 | 456 | ↓50 | |||
Average | - | 2,793 | 451 | ↓47 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,980 | 481 | ↓20 |
Tianjin | Anshan Steel | 3,000 | 484 | ↓40 | |||
Lecong | Anshan Steel | 2,850 | 460 | ↓70 | |||
Average | - | 2,943 | 475 | ↓43 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.20