During the week ending September 16, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a slight declining trend, while transaction activity in the overall market has been at decent levels. Average CRC prices in the local Chinese market are presented in the table below.
During the given week, CRC inventories in the Chinese domestic market have declined, providing a certain degree of support for CRC prices in the domestic spot market while overall transaction activity has showed no obvious improvement despite the traditional peak season of September. In addition, the sluggish situation of China's vehicle output and sales in August has exerted negative impact on the demand from downstream users. It is thought that CRC prices in the Chinese domestic market will likely edge down 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 | 2,490 | 391 | ↓20 |
Tianjin | Tangshan Steel | 2,430 | 381 | ↓70 | |||
Lecong | MaSteel | 2,600 | 408 | 0 | |||
Average | - | 2,507 | 394 | ↓30 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,570 | 403 | ↓10 |
Tianjin | Anshan Steel | 2,780 | 436 | 0 | |||
Lecong | Anshan Steel | 2,620 | 411 | 0 | |||
Average | - | 2,657 | 417 | ↓3 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.37