During the week ending November 18, average prices in the Chinese domestic cold rolled coil (CRC) market have been mostly stable, though some slight fluctuations have also been observed, 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, some CRC prices have indicating a slight rising trend as major steelmakers such as Wuhan Iron and Steel and Ansteel have increased their ex-works prices, providing support for CRC prices in eastern China. However, in northern China CRC product prices have softened a little as demand has become slacker due to colder weather. If transaction activity does not improve, steelmakers will likely reduce their supply to the market. It is thought that CRC prices in the Chinese domestic market will likely 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 | 2,220 | 348 | ↑20 |
Tianjin | Tangshan Steel | 2,180 | 342 | ↓20 | |||
Lecong | MaSteel | 2,430 | 381 | 0 | |||
Average | - | 2,277 | 357 | 0 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,230 | 350 | ↑20 |
Tianjin | Anshan Steel | 2,600 | 408 | ↓20 | |||
Lecong | Anshan Steel | 2,500 | 392 | ↓30 | |||
Average | - | 2,443 | 383 | ↓10 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.38