During the week ending December 21, the Chinese domestic cold rolled coil (CRC) market has mostly remained stable, though average cold rolled sheet (CRS) prices have indicated a slight uptick, 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, average CRC prices have moved on a stable trend, with support from relatively high costs. Meanwhile, short supply has continued to be observed in the Chinese domestic CRC market, exerting a positive impact on CRC prices. Moreover, most major Chinese steelmakers have increased their CRC offer prices for January shipment. However, buyers are unwilling to purchase at the increased price levels and are mostly maintaining a wait-and-see stance. It is thought that CRC prices in the Chinese domestic market will likely move sideways 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 | 4,920 | 708 | 0 |
| Tianjin | Tangshan Steel | 4,590 | 660 | 0 | |||
| Lecong | MaSteel | 4,910 | 706 | 0 | |||
| Average | - | 4,806 | 692 | 0 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,850 | 698 | 0 |
| Tianjin | Anshan Steel | 5,000 | 719 | ↑50 | |||
| Lecong | Anshan Steel | 4,890 | 704 | ↓10 | |||
| Average | - | 4,913 | 707 | ↑13 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.95 RMB