During the week ending March 15, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have indicated a declining 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, supplies to the domestic CRC spot market have been at relatively high levels. In this context, CRC traders are seeking to sell off products in order to reduce their inventory levels and bring in cash. However, consumption of traders’ inventories remains slow. Meanwhile, no significant improvement in demand has been observed from downstream industries. It is thought that CRC prices in the Chinese domestic market will likely move down further 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 | 4,450 | 644 | ↓150 |
| Tianjin | Tangshan Steel | 4,560 | 660 | ↓30 | |||
| Lecong | MaSteel | 4,600 | 666 | ↓200 | |||
| Average | - | 4,537 | 657 | ↓126 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,680 | 677 | ↓60 |
| Tianjin | Anshan Steel | 5,000 | 724 | ↓50 | |||
| Lecong | Anshan Steel | 4,650 | 673 | ↓170 | |||
| Average | - | 4,777 | 691 | ↓93 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.91 RMB