During the week ending May 8, average cold rolled coil (CRC) prices in the Chinese domestic market have moved down slightly, 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, replenishment of CRC ahead of the Labor Day holiday was not as good as had been expected, while after the holiday China’s financial markets moved down sharply, exerting a negative impact on the domestic CRC market. At the same time, demand for CRC will be slacker in May, which will negatively affect CRC prices, though high iron ore prices will bolster CRC prices to some extent. It is expected that CRC prices in the Chinese domestic market will move down further 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 |
642 |
0 |
|
Tianjin |
Tangshan Steel |
4,310 |
636 |
0 |
|||
|
Lecong |
MaSteel |
4,420 |
652 |
↓10 |
|||
|
Average |
- |
4,360 |
643 |
-3 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,490 |
662 |
0 |
|
Tianjin |
Anshan Steel |
4,430 |
653 |
↓30 |
|||
|
Lecong |
Anshan Steel |
4,620 |
681 |
0 |
|||
|
Average |
- |
4,513 |
666 |
↓10 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.78 RMB