During the week ending July 26, the Chinese domestic cold rolled coil (CRC) market has continued to move on an upward trend, while transaction activity in the overall market has been at medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, CRC supply in the domestic market has been on the short side, providing a certain degree of support for CRC prices. Ferrous metals futures prices declined in the first part of the given week, but have risen during the past two trading days, positively influencing the CRC market. China is expected to see a cooling of its current hot weather conditions in the coming period, which is good news for the CRC market. It is thought that CRC prices in the Chinese domestic market will edge up slightly 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 |
4,350 |
644 |
↑30 |
|
Tianjin |
Tangshan Steel |
4,250 |
630 |
↑10 |
|||
|
Lecong |
MaSteel |
4,420 |
655 |
↑30 |
|||
|
Average |
- |
4,340 |
643 |
↑23 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,320 |
640 |
↑20 |
|
Tianjin |
Anshan Steel |
4,460 |
661 |
↑10 |
|||
|
Lecong |
Anshan Steel |
4,430 |
656 |
↑30 |
|||
|
Average |
- |
4,403 |
652 |
↑20 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.75 RMB