The Chinese cold rolled coil (CRC) market has maintained its rising trend in the past week. On January 12, the average CRC prices in the main markets in China are as follows:
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
1.0mm × 1,250 ×C |
SPCC |
5,497 |
+47 |
832 |
+7 |
|
CRS |
1.0mm × 1,250 × 2,500 |
SPCC |
5,563 |
+36 |
842 |
+5 |
As of January 12, prices of ST12 1.0 mm × 1,250 mm × C CRC stand at RMB 5,490/mt ($831/mt), RMB 5,450/mt ($825/mt) and RMB 5,550/mt ($840/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 5,560/mt ($841/mt), RMB 5,550/mt ($840/mt) and RMB 5,580/mt ($844/mt) respectively in the Shanghai, Tianjin and Lecong markets. All the above prices include 17 percent VAT (US$1 = RMB 6.62).
In Shanghai, the local CRC market has increased slightly in the past week. After Baosteel increased its CRC prices for February by RMB 100/mt ($15/mt), some traders continued to increase their spot market prices. The general transaction situation in the market is good. Local traders expect that, with the Spring Festival approaching, more downstream purchases will be seen in Shanghai in the coming week, and that local CRC prices will thus move in an upward direction.
In the Tianjin market, supported by ex-mill prices, Tianjin CRC traders have been seeking to increase prices for products such cut-to-length cold rolled plate produced by Angang Steel. Some traders have indicated that the product in question has not yet been delivered to the market, but that its price may rise to RMB 5,600/mt ($845/mt) when it does arrive in the market. There have been few new arrivals of CRC products in the Tianjin market. Some traders have increased their prices of CRC products produced by Tangshan Iron and Steel and Shougang Group to RMB 5,500/mt ($830/mt), while they have raised their prices of products from Tianjin Tiantie Metallurgical Group and Baogang Group to RMB 5,450/mt ($823/mt).
In the Lecong market, the market mood is generally optimistic. There are fewer CRC products available at low prices, while market demand is good, though end-user demand is expected to weaken as the Spring Festival draws nearer. Traders say they will adjust their prices in line with the market situation.
Generally speaking, as steelmakers increased their prices, the Chinese CRC market rose further in the past week. However, as the Spring Festival approaches, activity levels are in general expected to weaken.