During the week ending March 21, average cold rolled coil (CRC) prices in the Chinese domestic market have decreased slightly, while transaction activity in the overall market has been at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, ferrous metal futures prices in China have decreased, exerting a negative impact on CRC prices in the spot market. Meanwhile, cold weather has hit most regions of China, resulting in slack demand for CRC from downstream users. At the same time, inventories are at relatively high levels after the Chinese New Year holiday, negatively affecting the CRC market. Shanghai-based producer Baoshan Iron and Steel Co. Ltd (Baosteel) has issued its CRC ex-works prices for April shipment, raising its prices by RMB 50/mt ($8/mt), which will provide support for CRC prices in the spot market. With the weather becoming warmer in April, demand will improve and boost CRC prices. It is expected that domestic CRC prices in China will move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,500 |
711 |
↓70 |
|
Tianjin |
Tangshan Steel |
4,630 |
731 |
↓30 |
|||
|
Lecong |
MaSteel |
4,580 |
724 |
0 |
|||
|
Average |
- |
4,570 |
722 |
↓33 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,520 |
714 |
↓70 |
|
Tianjin |
Anshan Steel |
4,640 |
733 |
↓10 |
|||
|
Lecong |
Anshan Steel |
4,680 |
739 |
0 |
|||
|
Average |
- |
4,613 |
729 |
↓27 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.33 RMB