Local Chinese CRC market continues its downward movement

Wednesday, 12 April 2017 14:39:54 (GMT+3)   |   Shanghai
       

During the week ending April 12, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have continued to decline, 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, semi-finished steel prices in Tangshan have declined significantly, exerting strong downward pressure on CRC prices in the Chinese domestic market. In addition, the overall downward trend seen in the domestic flat rolled steel market has influenced the trend of domestic CRC prices. As CRC inventories are still at high levels in China, it is expected that CRC prices in the Chinese domestic market will continue their downward 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

3,680

533

↓270

Tianjin

Tangshan Steel

3,500

507

↓290

Lecong

MaSteel

3,790

549

↓130

Average

 -

3,657

530

↓230

Thin CRS

1.0 mm x 1,250mm x 2,500 mm

ST12

Shanghai

Anshan Steel

3,900

565

↓270

Tianjin

Anshan Steel

4,310

625

↓230

Lecong

Anshan Steel

3,820

554

↓140

Average

 -

4,010

581

↓213

 

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = 6.90 RMB


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