Trading activity improves in local Chinese CRC market

Wednesday, 24 May 2017 14:51:15 (GMT+3)   |   Shanghai
       

During the week ending May 24, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have increased, while transaction activity in the overall market has improved and is now at decent levels. Average cold rolled product prices in the local Chinese market are presented in the following table.

During the given week, Chinese domestic CRC prices have indicated a rising trend with support from lower inventory levels and higher domestic ferrous metal futures prices. Market sentiment has improved, resulting in better transaction activity. Against the backdrop of ongoing environmental protection measures impacting steel production, it is thought that CRC prices in the Chinese domestic market will likely move up slightly 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 3,830 556 ↑140
Tianjin Tangshan Steel 3,700 537 0
Lecong MaSteel 3,880 563 ↑80
Average  - 3,803 552 ↑73
Thin CRS 1.0 mm x 1,250mm x 2,500 mm ST12 Shanghai Anshan Steel 3,820 554 ↑100
Tianjin Anshan Steel 3,860 560 ↑150
Lecong Anshan Steel 3,930 570 ↑50
Average  - 3,820 554 ↑50
 

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = 6.89 RMB


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