Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
1.0 mm x 1,250 m x C |
SPCC |
5,143 |
-7 |
814 |
-1 |
|
CRS |
1.0 mm x 1,250 mm x 2,500 mm |
SPCC |
5,257 |
0 |
832 |
0 |
As of November 9, the prices of ST12 1.0 mm x 1,250 mm x C CRC in Shanghai, Tianjin and Lecong are respectively RMB 5,280/mt ($835mt), RMB 5,020/mt ($794/mt) and RMB 5,130/mt ($812/mt). For ST12 1.0 mm x 1,250 mm x 2,500 mm cold rolled sheet (CRS), prices stand at RMB 5,270/mt ($834/mt), RMB 5,200/mt ($823/mt) and RMB 5,300/mt ($839/mt) in the abovementioned cities. All prices include 17 percent VAT ($1 = RMB 6.32).
In Chinese CRC market, some traders in the major markets have increased offers in the past week by RMB 20-50/mt ($3-8/mt), due to limited stocks as their new cargos have not arrived yet. On the other hand, other traders have been keeping their prices stable. Some traders have stated that new supplies are expected to arrive next week, which will lower the pressure on traders who have less inventory.
Nevertheless, a variety of negative factors still exist in the market, and traders are cautious as regards the prospects for the future market. Along with softening demand from end-users, high CRC production levels in China will bring great pressure to bear on the domestic spot market, and so domestic CRC production is likely to be diverted to the international market. However, the European debt crisis has led to a significant reduction in the volume of export orders. Falling demand both at home and abroad forces the Chinese mills to adjust their production. Therefore, the supply adjustment by the mills will be among the key factors affecting the future domestic CRC price trend.
It is expected that the Chinese CRC market will continue to indicate slight fluctuations in the coming week.