During the week ending December 14, the Chinese domestic cold rolled coil (CRC) markets have indicated a rising trend, 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 given week, CRC prices have indicated significant increases due to support from increases in Chinese futures prices and in semi-finished steel prices in Tangshan. Meanwhile, short supply has continued to be observed in the Chinese domestic CRC market, providing support for CRC prices. Moreover, most steelmakers in China have increased their CRC offer prices for December shipment. In particular, major steelmakers like Masteel and Baogang have increased their basic prices of cold rolled products by RMB 150/mt ($21.74/mt), exerting a positive impact on CRC prices in the spot market. However, buyers are unwilling to purchase at the increased price levels and are mostly maintaining a wait-and-see stance. It is thought that CRC prices in the Chinese domestic market will likely move sideways in the coming week.
| Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 4,920 | 712 | ↑270 |
| Tianjin | Tangshan Steel | 4,590 | 664 | ↑210 | |||
| Lecong | MaSteel | 4,910 | 711 | ↑280 | |||
| Average | - | 4,806 | 696 | ↑253 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,850 | 702 | ↑220 |
| Tianjin | Anshan Steel | 4,950 | 716 | ↑350 | |||
| Lecong | Anshan Steel | 4,900 | 709 | ↑250 | |||
| Average | - | 4,900 | 709 | ↑273 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.91 RMB