During the week ending June 7, the Chinese domestic cold rolled coil (CRC) market first indicated a downward movement but later trended up slightly, 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 first part of the given week, more CRC supplies arrived in the market and so traders lowered their prices in order to boost their sales. In addition, after the Dragon Boat Festival (May 28-30), steel futures prices in China softened, exerting a negative impact on the CRC market. In the latter part of the week, due to the high cost of their stocks, most traders were unwilling to reduce their prices and even raised their prices slightly. It is expected that CRC prices in the Chinese domestic market will move sideways 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 | 3,760 | 554 | ↓30 |
Tianjin | Tangshan Steel | 3,650 | 538 | ↓20 | |||
Lecong | MaSteel | 3,820 | 563 | ↓40 | |||
Average | - | 3,743 | 551 | ↓30 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,700 | 545 | ↓80 |
Tianjin | Anshan Steel | 3,910 | 576 | ↑50 | |||
Lecong | Anshan Steel | 3,870 | 570 | ↓40 | |||
Average | - | 3,827 | 564 | ↓23 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.79 RMB