During the week ending December 6, average cold rolled coil (CRC) prices in the Chinese domestic market have continued to increase, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, there have been insufficient supplies arriving in the local CRC market, resulting in supply shortages and pushing up CRC prices in the spot market. In the early part of the given week, ferrous metal futures prices moved upwards, providing solid support for CRC prices, though futures prices have edged down in the past two trading days. It is thought that CRC prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,950 |
749 |
↑110 |
|
Tianjin |
Tangshan Steel |
4,870 |
737 |
↑90 |
|||
|
Lecong |
MaSteel |
5,100 |
772 |
↑90 |
|||
|
Average |
- |
4,973 |
752 |
↑97 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,980 |
753 |
↑120 |
|
Tianjin |
Anshan Steel |
5,200 |
787 |
↑90 |
|||
|
Lecong |
Anshan Steel |
5,140 |
778 |
↑90 |
|||
|
Average |
- |
5,107 |
773 |
↑100 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.61 RMB