As of October 17, average cold rolled coil (CRC) prices in the Chinese domestic market have declined on week-on-week basis, 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.
Although transaction activities in the local Chinese CRC market have been at low-to-medium level at the beginning of the given week following the long national holiday, it has slowed down in the following days, exerting a negative impact on market participants’ sentiment towards the market prospects. Meanwhile, market players have been willing to conclude sales to bring in cash in the rest of October, also weakening the support to CRC prices. However, ferrous metal futures prices have edged up in the given week, which have provided certain support to CRC market. 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 |
4,770 |
694 |
↓50 |
|
Tianjin |
Tangshan Steel |
4,810 |
700 |
↑10 |
|||
|
Lecong |
MaSteel |
4,800 |
699 |
↓20 |
|||
|
Average |
- |
4,793 |
698 |
↓20 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,830 |
703 |
↓60 |
|
Tianjin |
Anshan Steel |
4,970 |
723 |
0 |
|||
|
Lecong |
Anshan Steel |
5,000 |
728 |
↓30 |
|||
|
Average |
- |
4,933 |
718 |
↓30 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.93 RMB