In the past week, the Chinese cold rolled coil (CRC) market has maintained its weak trend, with market prices down slightly compared with the previous week. 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) |
1.0 mm x 1,250 mm x C |
SPCC |
5,487 |
-26 |
842 |
-4 |
|
CRS |
1.0 mm x 1,250 mm x 2,500 mm |
SPCC |
5,557 |
-20 |
852 |
-3 |
As of May 25, prices of ST12 1.0 mm × 1,250 mm × C CRC stand at RMB 5,480/mt ($840/mt), RMB 5,480/mt ($840/mt) and RMB 5,500/mt ($844/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 5,530/mt ($848/mt), RMB 5,580/mt ($856/mt) and RMB 5,560/mt ($853/mt) respectively in the Shanghai, Tianjin and Lecong markets. All the above prices include 17 percent VAT (US$1 = RMB 6.53).
On May 20, the aggregate inventory of cold rolled products in China was at 1,693,410 mt, up by 10,510 mt week on week. On the same date, inventory in Shanghai was 567,270 mt.
In the past week, the Chinese cold rolled coil market has remained weak, with market prices sliding down slightly. Currently, supplies in the market mainly consist of March and April production, with limited arrivals of May production materials so far. However, since the prices of May production materials are relatively low, domestic cold rolled coil market prices may be negatively impacted in the future.
Furthermore, due to power rationing measures, domestic steel production will be affected. On the other hand, slowdowns in the automotive and appliance sectors have resulted in weak demand for cold rolled products. In addition, seasonal weak demand in the international market has contributed to a reduction in overseas orders.
In general, on the back of sluggish domestic and international demand, the Chinese cold rolled coil market is expected to maintain its weak trend in the coming week.