During the week ending May 17, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have increased, 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, inventory levels of CRC in the Chinese domestic market have continued to fall, providing support for prices. Meanwhile, domestic futures prices have also rebounded, exerting a positive impact on CRC prices in the spot market. Market sentiment has improved, resulting in better transaction activity. Against the backdrop of the steel production restrictions for the One Belt One Road Forum (BRF) and also given ongoing environmental protection measures, it is thought that CRC prices in the Chinese domestic market will move 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 | 3,690 | 536 | ↑90 |
| Tianjin | Tangshan Steel | 3,700 | 537 | ↑130 | |||
| Lecong | MaSteel | 3,800 | 552 | ↑20 | |||
| Average | - | 3,730 | 541 | ↑80 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,720 | 540 | ↑60 |
| Tianjin | Anshan Steel | 3,710 | 538 | 0 | |||
| Lecong | Anshan Steel | 3,880 | 563 | ↑30 | |||
| Average | - | 3,770 | 547 | ↑30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB