During the week ending July 19, 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, increases in ferrous metals futures prices in China and relatively low inventory levels of CRC have provided support for CRC prices in the local Chinese market. Meanwhile, major Chinese steelmakers’ have increased their ex-works prices for CRC, exerting a positive impact on the price trend in the CRC market. It is thought that CRC prices in the Chinese domestic market will move up further 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 |
4,320 |
639 |
↑150 |
|
Tianjin |
Tangshan Steel |
4,240 |
627 |
↑100 |
|||
|
Lecong |
MaSteel |
4,390 |
649 |
↑120 |
|||
|
Average |
- |
4,317 |
639 |
↑123 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,300 |
636 |
↑110 |
|
Tianjin |
Anshan Steel |
4,450 |
658 |
↑70 |
|||
|
Lecong |
Anshan Steel |
4,400 |
651 |
↑120 |
|||
|
Average |
- |
4,383 |
648 |
↑100 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.76 RMB