Chinese domestic CRC market edges up slightly

Wednesday, 12 September 2018 17:53:38 (GMT+3)   |   Shanghai
       

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


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