As of September 12, average cold rolled coil (CRC) prices in the Chinese domestic market have increased slightly on week-on-week basis, 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, domestic CRC prices have edged up slightly, while market participants have mostly held a wait-and-see stance as regards the future prospects for the market. Ferrous metal futures prices in China have indicated sharp declines over the past two trading days due to rumors of an easing of production restrictions for the winter season, and this exerted negative pressure on the CRC market. However, China’s Ministry of Ecology and Environment has now refuted the rumors, which will likely stabilize the futures market. It is thought that CRC prices in the Chinese domestic market will 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 |
4,890 |
712 |
↓10 |
Tianjin |
Tangshan Steel |
4,830 |
703 |
↑40 |
|||
Lecong |
MaSteel |
4,930 |
718 |
0 |
|||
Average |
- |
4,883 |
711 |
↑10 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
5,060 |
737 |
0 |
Tianjin |
Anshan Steel |
4,970 |
723 |
↑40 |
|||
Lecong |
Anshan Steel |
4,980 |
725 |
↓20 |
|||
Average |
- |
5,003 |
728 |
↑6 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB