During the week ending December 12, average cold rolled coil (CRC) prices in the Chinese domestic market have edged 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, following the rises seen in domestic CRC prices due to the positive impact from the meeting between Chinese President Xi Jinping and his US counterpart Donald Trump, market players have continued to maintain a wait-and-see stance and have preferred to conclude purchases only in line with their needs. Meanwhile, ferrous metal futures prices in China have moved down, exerting a negative impact on the price trend in the CRC market. 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 |
4,190 |
608 |
↓20 |
|
Tianjin |
Tangshan Steel |
4,110 |
597 |
↓50 |
|||
|
Lecong |
MaSteel |
4,260 |
618 |
↓10 |
|||
|
Average |
- |
4,166 |
605 |
↓27 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,250 |
617 |
↑10 |
|
Tianjin |
Anshan Steel |
4,460 |
647 |
↓50 |
|||
|
Lecong |
Anshan Steel |
4,470 |
649 |
↓10 |
|||
|
Average |
- |
4,393 |
638 |
↓17 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB