During the week ending April 24, 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, Chinese steelmaker Benxi Iron and Steel Co., Ltd issued its ex-works prices for May shipment, raising its CRC prices by RMB 50/mt ($7.45/mt), thereby bolstering CRC prices in the domestic spot market. However, demand in May is expected to slacken compared to the traditional peak season in March and April, and this will exert a negative impact on the CRC market. At the same time, the approach of the Labor Day holiday (May 1-4) will also negatively affect demand for CRC. It is expected that CRC prices in the Chinese domestic market will move on a soft trend in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,350 |
647 |
↓10 |
|
Tianjin |
Tangshan Steel |
4,310 |
641 |
↓50 |
|||
|
Lecong |
MaSteel |
4,430 |
659 |
↓10 |
|||
|
Average |
- |
4,363 |
649 |
↓23 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,490 |
668 |
↓10 |
|
Tianjin |
Anshan Steel |
4,460 |
664 |
↓50 |
|||
|
Lecong |
Anshan Steel |
4,620 |
688 |
↓10 |
|||
|
Average |
- |
4,523 |
673 |
↓23 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.72 RMB