SteelOrbis

Buyers wait and see in Chinese domestic CRC market

Wednesday, 11 January 2017 15:11:44 (GMT+3)   -   Shanghai

During the week ending January 11, the Chinese domestic cold rolled coil (CRC) market has indicated a slight rising trend, while transaction activity in the overall market has been better than in the previous week and is currently at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.

During the given week, average CRC prices have moved on a slight rising trend. Most buyers believe that domestic CRC prices are at relatively high levels after previous significant increases and are unwilling to purchase at these price levels. Accordingly, they mostly prefer to maintain a wait-and-see stance. As the current peak season for the automotive and home appliance sectors may not continue after the Chinese New Year holiday, it is unclear whether CRC prices can remain at such high levels. It is thought that CRC prices in the Chinese domestic market will likely 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

4,880

704

0

Tianjin

Tangshan Steel

4,520

652

↑90

Lecong

MaSteel

4,800

693

0

Average

 -

4,733

683

↑30

Thin CRS

1.0 mm x 1,250mm x 2,500 mm

ST12

Shanghai

Anshan Steel

4,860

701

↑10

Tianjin

Anshan Steel

5,150

743

0

Lecong

Anshan Steel

4,800

693

0

Average

 -

4,936

712

↓3


17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = 6.93 RMB


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