As of July 11, average cold rolled coil (CRC) prices in the Chinese domestic market have continued to decrease week on week, 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, ferrous metal futures prices in China moved down first but edged up later, influencing the trend of the CRC market, though average prices of CRC are now lower compared to one week ago. Currently, demand from downstream users for CRC is slack, exerting a negative impact on CRC prices. Moreover, the US has escalated the trade war against China, negatively impacting sentiment in the Chinese financial market, which in turn has impacted the CRC market. It is expected that CRC prices in the Chinese domestic market will move sideways in the coming week due to support from tight supply.
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 |
4,680 |
702 |
↓10 |
Tianjin |
Tangshan Steel |
4,540 |
681 |
↓30 |
|||
Lecong |
MaSteel |
4,680 |
702 |
↓10 |
|||
Average |
- |
4,630 |
694 |
↓17 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,690 |
703 |
↓10 |
Tianjin |
Anshan Steel |
4,710 |
706 |
↓30 |
|||
Lecong |
Anshan Steel |
4,820 |
723 |
↓30 |
|||
Average |
- |
4,740 |
711 |
↓23 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.67 RMB