During the week ending February 15, the Chinese domestic cold rolled coil (CRC) market has indicated an upward trend, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, ferrous metal futures prices in China have increased, boosting sentiment in the domestic CRC market. Meanwhile, domestic prices of finished steel, including hot rolled coil (HRC), and raw material have also moved up, positively impacting prices and sentiment in the local CRC spot market. Major Chinese steelmaker Baosteel has issued its ex-works prices for March, keeping its CRC prices unchanged, which will stabilize the cost of cold rolled supplies for the spot market. Accordingly, it is thought that CRC prices in the Chinese domestic market will likely move sideways or just edge up slightly in the coming week.
Product name | Spec. | Quality | 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 | 4,790 | 697 | ↑30 |
Tianjin | Tangshan Steel | 4,550 | 662 | ↑110 | |||
Lecong | MaSteel | 4,930 | 718 | ↑110 | |||
Average | - | 4,756 | 692 | ↑64 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,860 | 707 | ↑50 |
Tianjin | Anshan Steel | 5,250 | 764 | ↑50 | |||
Lecong | Anshan Steel | 4,950 | 721 | ↑140 | |||
Average | - | 5,020 | 731 | ↑180 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB