During the past week the Chinese cold rolled coil (CRC) market has continued to drop down slightly. Market inventory has increased, while market players are waiting to see what happens next. As of December 1, CRC prices in the main Chinese markets are as follows:
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
1.0 mm × 1,250 mm × C |
SPCC |
5,290 |
-10 |
793 |
-1 |
|
CRS |
1.0 mm × 1,250 mm ×2,500 mm |
SPCC |
5,370 |
-13 |
805 |
-2 |
On December 1, prices of ST12 1.0 mm × 1,250 mm × C CRC stand at RMB 5,280/mt ($792/mt), RMB 5,250/mt ($787/mt) and RMB 5,340/mt ($801/mt) respectively in the Shanghai, Tianjin and Lecong markets. In addition, prices of ST12 1.0 mm × 1,250 mm × 2,500 mm CRS stand at RMB 5,380/mt ($807/mt), RMB 5,350/mt ($802/mt) and RMB 5,380/mt ($807/mt) respectively in the Shanghai, Tianjin and Lecong markets. All the above prices include 17 percent VAT (US$1 = RMB 6.67).
Large steelmakers in China have published prices for December, with most steelmakers reducing prices to some extent. This has influenced traders' expectations for the future. During the past week, traders were cautious about concluding transactions. Considering the cost factor and short supplies, traders are not likely to lower their prices by any large margin.
In general, inventories in the main Chinese CRC markets have increased a little. On November 26, aggregate CRC inventory in the main Chinese cities was 1.41299 million mt, up 4,810 mt week on week. The biggest increase in inventory was registered in eastern China. On November 26, inventory in Shanghai was 502,490 mt, up 5,710 mt week on week.
The Chinese CRC market is not expected to see much change in the coming week, apart from slight fluctuations.