During the week ending August 26, prices in the Chinese domestic cold rolled coil (CRC) market have softened, 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, the impact of steel production cuts amid environment protection measures implemented with the approach of the 70th anniversary of victory in the war against Japan has not been as significant as expected. Meanwhile, approaching the end of the month, the local CRC market has come under pressure from tight liquidity. In addition, inventory levels of CRC have increased, negatively influencing CRC prices. Furthermore, the sharp declines in the stock markets in recent days have contributed to nervous sentiment among players in the local CRC market. It is thought that CRC prices in the Chinese domestic market will likely soften further 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 | 2,550 | 398 | ↓20 |
Tianjin | Tangshan Steel | 2,540 | 396 | ↓70 | |||
Lecong | MaSteel | 2,600 | 406 | 0 | |||
Average | - | 2,563 | 400 | ↓30 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,590 | 404 | 0 |
Tianjin | Anshan Steel | 2,780 | 434 | ↓10 | |||
Lecong | Anshan Steel | 2,620 | 409 | 0 | |||
Average | - | 2,663 | 415 | ↓3 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.41