During the week ending May 11, in the Chinese domestic market average cold rolled coil (CRC) and cold rolled sheet (CRS) prices have indicated downward movement, while transaction activity in the overall market has slackened further and is currently at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, domestic finished steel prices in China have declined sharply, while ferrous metal futures prices have also softened, all of which has exerted a negative impact on the domestic cold rolled steel market. With transaction activity at low levels, traders have been willing to sell at reduced prices. After major domestic producer Baosteel increased its ex-works prices for June delivery, Wuhan Iron and Steel Group (WISCO) has raised its CRC prices by RMB 150/mt ($23/mt), thereby providing some support for domestic CRC prices. It is thought that the Chinese domestic CRC market will likely move sideways in the coming week.
| Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 3,370 | 518 | ↓280 |
| Tianjin | Tangshan Steel | 3,100 | 476 | ↓250 | |||
| Lecong | MaSteel | 3,500 | 538 | ↓370 | |||
| Average | - | 3,324 | 511 | ↓300 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,500 | 538 | ↓240 |
| Tianjin | Anshan Steel | 3,550 | 546 | ↓150 | |||
| Lecong | Anshan Steel | 3,900 | 599 | ↓180 | |||
| Average | - | 3,650 | 561 | ↓190 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.51 RMB