During the week ending November 23, Chinese cold rolled coil (CRC) prices have been trending downward, following the stable trend last week. As of November 23, the average prices of cold rolled steel products in main Chinese cities are as follows:
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
1.0 mm x 1,250 mm x C |
SPCC |
5,137 |
-6 |
810 |
-1 |
|
CRS |
1.0 mm x 1,250 mm x 2,500 mm |
SPCC |
5,240 |
-17 |
826 |
-3 |
As of November 23, the prices of ST12 1.0 mm x 1,250 mm x C CRC in Shanghai, Tianjin and Lecong are respectively RMB 5,260/mt ($830/mt), RMB 5,020/mt ($792/mt) and RMB 5,130/mt ($809/mt). For ST12 1.0 mm x 1,250 mm x 2,500 mm CRS (cold rolled sheet), prices stand at RMB 5,220/mt ($823/mt), RMB 5,200/mt ($820/mt) and RMB 5,300/mt ($836/mt) in the abovementioned cities. All prices include 17 percent VAT ($1 = RMB 6.34).
In the past week, China's cold rolled coil market has been negatively impacted by slack demand in the downstream market, after the sideways trend observed in the previous week. The current global economic uncertainty also continues to influence the market. Meanwhile, due to the limited profit margins which traders saw during September and October, most traders do not want to make significant cuts to their sales prices. Transaction volumes in the market are on the low side.
It is thought that the Chinese CRC market will probably maintain its downtrend in the coming seven days.