During the week ending April 27, in the Chinese domestic market average cold rolled coil (CRC) prices have declined, though cold rolled sheet (CRS) prices have continued to rise, while transaction activity in the overall market has slackened compared to the previous week. Average cold rolled product prices in the local Chinese market are presented in the table below.
During the given week, CRC prices in the Chinese domestic market have indicated corrections, influenced by decreases in the ferrous metal futures markets in China. Although supply in the CRC market is on the short side, some traders have had to sell at lower prices in order to boost transaction activity. Factors which will provide some support for domestic cold rolled prices in the coming period included production cuts during the period of the Tangshan International Horticultural Exposition 2016 (starts April 29), the relatively low inventory levels in the market, and domestic steelmakers' increased ex-works prices for May delivery. It is thought that CRC prices in the Chinese domestic market will likely soften in the coming week, though with limited decrease margins.
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 | 3,710 | 572 | ↑30 |
Tianjin | Tangshan Steel | 3,400 | 524 | ↓180 | |||
Lecong | MaSteel | 3,850 | 593 | ↑50 | |||
Average | - | 3,653 | 563 | ↓33 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,810 | 587 | ↑50 |
Tianjin | Anshan Steel | 3,750 | 578 | 0 | |||
Lecong | Anshan Steel | 4,060 | 626 | 0 | |||
Average | - | 3,873 | 597 | ↑17 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.49 RMB