During the week ending April 29, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a downward movement, while transaction activity in the market has remained slack.
During the given week, although hot rolled coil (HRC) prices in the Chinese domestic market have indicated an overall uptrend, local CRC traders have said that domestic CRC prices are unlikely to see a rebound in the short term. Meanwhile, Chinese steelmakers have mostly decreased their ex-works prices for CRC products, weakening support for CRC market prices. In April, some CRC traders reduced their tonnages ordered from steelmakers due to sluggish demand, while their ordered tonnages may remain on the low side in May. It is expected that CRC prices in the Chinese domestic market will continue to move on a downtrend 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 | 2,990 | 482 | ↓30 |
Tianjin | Tangshan Steel | 3,030 | 489 | 0 | |||
Lecong | MaSteel | 3,190 | 515 | ↓40 | |||
Average | - | 3,070 | 495 | ↓23 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,130 | 505 | ↓40 |
Tianjin | Anshan Steel | 3,360 | 542 | 0 | |||
Lecong | Anshan Steel | 3,280 | 529 | 0 | |||
Average | - | 3,257 | 527 | ↓13 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20