Product name |
Specification |
Category |
Average price(RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
1.0 mm x 1,250 x C |
SPCC |
4,383 |
+66 |
642 |
|
CRS |
1.0 mm x 1,250 x 2,500 |
SPCC |
4,450 |
+40 |
652 |
Over the last couple of weeks, China's domestic cold rolled prices have trended up continuously, with few new arrivals seen in the market. However, as prices keep climbing up, demands in the market has started to slacken somewhat, leading to increasing pressure on inventory levels. According to the relevant statistics, as of June 5, cold rolled inventory in the Shanghai market reached 320,000 mt, up 30,000 mt from the previous week.
On June 4, WISCO released its new ex-mill prices of certain products for July. Accordingly, the producer's cold rolled coil prices have been raised by RMB 360/mt ($53/mt). Thus, the price of Q915 1.0 mm cold rolled sheet now stands at RMB 4,370/mt ($640/mt) ex-mill, while the Q915 1.0 mm cold rolled coil price is at RMB 4,320/mt ($633/mt). Both prices exclude 17 percent VAT.
On the traders' side, some are still positive towards the future market, while others are more cautious considering the current difference between the ex-mill prices and the market prices, as well as due to the upcoming season which is traditionally a "low" season. The latter are inclined to destock material on hand in order to increase cash flow, as a result of which market quotations are varying in a wide range.
In general, production cost is the main factor influencing market prices in the short term. China's domestic cold rolled market is expected to trend sideways in the coming period.