During the week ending November 21, average cold rolled coil (CRC) prices in the Chinese domestic market have continued to move down, 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, market players have been willing to sell at lower prices to bring in cash as pessimistic sentiment prevailed among market participants in CRC market. However, CRC traders’ costs of booking CRC resources from steelmakers have been at comparatively high level, thus they do not want to lower prices too much. It is expected 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 |
4,280 |
617 |
↓130 |
Tianjin |
Tangshan Steel |
4,240 |
611 |
↓210 |
|||
Lecong |
MaSteel |
4,470 |
644 |
↓90 |
|||
Average |
- |
4,330 |
624 |
↓143 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,280 |
617 |
↓140 |
Tianjin |
Anshan Steel |
4,590 |
661 |
↓130 |
|||
Lecong |
Anshan Steel |
4,680 |
674 |
↓40 |
|||
Average |
- |
4,516 |
651 |
↓103 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.94 RMB