During the week ending October 26, the Chinese domestic cold rolled coil (CRC) market has continued its upward trend, while transaction activity in the overall market has been slacker than in the previous week and is now 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, CRC prices in the Chinese domestic market have indicated further increases with the support of ongoing rises in the ferrous metal futures market in China. However, buyers are showing signs of greater reluctance to conclude purchases at the increased price levels. On the sellers’ side, some of their offer prices are higher than mainstream market prices due to their optimism as regards the future prospects for the CRC market. At the same time, inventory levels are at relatively low levels, which will also provide support for CRC prices. It is thought that CRC prices in the Chinese domestic market will likely move up further in the coming week.
| Product name | Spec. | Category | 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 | Ansteel | 3,800 | 560 | ↑130 |
| Tianjin | Tangsteel | 3,690 | 544 | ↑30 | |||
| Lecong | Masteel | 3,750 | 553 | ↑100 | |||
| Average | - | 3,747 | 553 | ↑87 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,810 | 562 | ↑130 |
| Tianjin | Anshan Steel | 3,800 | 560 | 0 | |||
| Lecong | Anshan Steel | 3,780 | 558 | ↑100 | |||
| Average | - | 3,797 | 560 | ↑77 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.78 RMB