During the week ending August 5, prices in the Chinese domestic cold rolled coil (CRC) market have risen slightly, while transaction activity in the overall market has been better than in the previous week, though still remaining at low levels. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, local HRC prices have indicated sharp rises, exerting a positive impact on the overall flat steel market in China and boosting sentiment among CRC traders. Meanwhile, many traders have suspended their sales activities in the given week, causing downstream users to increase their inquiries amid their concerns about supply.
Currently, inventory levels of CRC materials are at low levels and steelmakers have started to carry out maintenance work, which will negatively impact CRC supplies. Meanwhile, China will have a three-day holiday on September 3-5 to celebrate the 70th anniversary of victory in the war against Japan as well a seven-day holiday on October 1-7 for the National Day Holiday, and some rumors indicate that, against the backdrop of these holidays, steelmakers in northern China will have to limit their production from late August to mid-October due to environmental protection measures. It is expected that CRC prices in the Chinese domestic market will edge up slightly in the coming period.
| 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 | 2,550 | 411 | ↓30 |
| Tianjin | Tangshan Steel | 2,570 | 414 | ↑90 | |||
| Lecong | MaSteel | 2,600 | 419 | 0 | |||
| Average | - | 2,573 | 414 | ↓20 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,580 | 415 | ↓20 |
| Tianjin | Anshan Steel | 2,840 | 457 | ↑50 | |||
| Lecong | Anshan Steel | 2,620 | 422 | 0 | |||
| Average | - | 2,680 | 432 | ↑10 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21