During the week ending September 21, the Chinese domestic cold rolled coil (CRC) market has indicated a downward trend, while transaction activity in the overall market has been at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, despite having entered the traditional peak season of September, demand has not shown any significant improvement in the Chinese domestic CRC market, resulting in bearish sentiment among market players, dragging down domestic CRC prices. Approaching the end of the month, suppliers are seeking to speed up sales in order to bring in cash. However, with China’s National Day Holiday (October 1-7) drawing closer, demand is expected to remain slack. It is thought that domestic CRC prices will likely edge down further 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 | 3,450 | 517 | 0 |
| Tianjin | Tangshan Steel | 3,450 | 517 | ↓10 | |||
| Lecong | MaSteel | 3,400 | 510 | ↓60 | |||
| Average | - | 3,433 | 515 | ↓24 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,500 | 525 | ↓10 |
| Tianjin | Anshan Steel | 3,750 | 562 | 0 | |||
| Lecong | Anshan Steel | 3,430 | 514 | ↓80 | |||
| Average | - | 3,560 | 534 | ↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.67 RMB