During the week ending August 21, average CRC prices in the Chinese domestic market have edged down, with transaction activity in the overall market being at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
|
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
1.0 x 1,250 x C |
SPCC |
4,253 |
-20 |
604 |
-3 |
|
|
CRS |
1.0 x 1,250 x 2,500 |
SPCC |
4,363 |
-30 |
620 |
-4 |
During the given week, inventory levels of CRC have increased slightly, while iron ore prices have edged down, weakened the support for domestic CRC prices. However, the summer offseason will soon be over and purchasing activities have increased recently, which will exert a positive impact on the CRC market. It is expected that CRC prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
$1 = RMB 7.04