During the week ending April 22, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a downward movement, while transaction activity in the market has remained slack. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, local CRC traders have been willing to sell at lower prices due to tighter liquidity approaching the end of month, resulting in the downtrend seen in domestic CRC prices. Downstream users' consumption of CRC products has slowed down in the first quarter, resulting in higher CRC inventory levels and negatively affecting prices. It is expected that CRC prices in the Chinese domestic market will continue their downtrend in the coming week, though with smaller decrease margins likely.
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 | 3,020 | 487 | ↓40 |
Tianjin | Tangshan Steel | 3,030 | 489 | ↓40 | |||
Lecong | MaSteel | 3,230 | 521 | ↓110 | |||
Average | - | 3,093 | 499 | ↓63 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,170 | 511 | ↓60 |
Tianjin | Anshan Steel | 3,360 | 542 | ↓60 | |||
Lecong | Anshan Steel | 3,280 | 529 | ↓30 | |||
Average | - | 3,270 | 527 | ↓50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20