During the week ending February 22, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have increased, 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, semi-finished steel prices in Tangshan have indicated significant increases, exerting a positive impact on CRC prices in the domestic spot market, while increases in ferrous metal futures prices in China have also provided some support for CRC prices. However, traders have been under pressure from tight liquidity and so some of them are offering discounts in order to bring in funds. 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 | 4,800 | 698 | ↑10 |
Tianjin | Tangshan Steel | 4,650 | 676 | ↑100 | |||
Lecong | MaSteel | 4,930 | 717 | 0 | |||
Average | - | 4,793 | 697 | ↑37 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,900 | 712 | ↑40 |
Tianjin | Anshan Steel | 5,250 | 763 | 0 | |||
Lecong | Anshan Steel | 4,980 | 724 | ↑30 | |||
Average | - | 5,043 | 733 | ↑23 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.88 RMB