During the week ending August 31, the Chinese domestic cold rolled coil (CRC) market has continued its rising trend, while transaction activity in the overall market has been at medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, CRC inventory levels in the Chinese domestic spot market have been at low levels as not so many new supplies from steelmakers have been arriving in the market, thereby providing support for CRC spot prices. Meanwhile, due to previous increases in steelmakers’ ex-works prices, traders have also had to increase their sales prices. At the same time, demand has been at decent levels, providing additional support for CRC prices. It is thought that CRC prices in the Chinese domestic market will likely move up 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 | 3,480 | 521 | ↑180 |
| Tianjin | Tangshan Steel | 3,580 | 536 | ↑130 | |||
| Lecong | MaSteel | 3,470 | 519 | ↑20 | |||
| Average | - | 3,510 | 525 | ↑110 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,550 | 531 | ↑130 |
| Tianjin | Anshan Steel | 3,750 | 561 | ↑40 | |||
| Lecong | Anshan Steel | 3,600 | 539 | 0 | |||
| Average | - | 3,634 | 544 | ↑57 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.68 RMB