During the week ending June 17, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a downward trend, while transaction activity in the overall market has been slack. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, semi-finished steel prices in China have softened, exerting a negative impact on sentiment among local CRC traders. Meanwhile, major Chinese steelmaker Baosteel has decreased its CRC prices for July delivery by RMB 80/mt ($12.9/mt), and this has also affected traders' expectations for CRC prices. It is expected that CRC prices in the Chinese domestic market will move on a slight downtrend in the coming week, also due to the ongoing rainy weather and its impact on demand.Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 2,980 | 480 | ↓10 |
Tianjin | Tangshan Steel | 2,900 | 467 | ↓50 | |||
Lecong | MaSteel | 2,800 | 451 | ↓80 | |||
Average | - | 2,893 | 466 | ↓47 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,000 | 483 | ↓30 |
Tianjin | Anshan Steel | 3,150 | 507 | ↓10 | |||
Lecong | Anshan Steel | 2,920 | 470 | ↓120 | |||
Average | - | 3,023 | 487 | ↓54 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21