During the week ending July 10, average 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, HRC futures prices at Shanghai Futures Exchange (SHFE) have moved on a decreasing trend, exerting a negative impact on CRC prices in the spot market. Meanwhile, buyers have been unwilling to conclude purchases given the current softness of prices, resulting in low-to-medium transaction activities. At the same time, traders in the CRC market are downbeat on the future prospects for the market trend. 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 |
4,220 |
614 |
↓10 |
|
Tianjin |
Tangshan Steel |
4,170 |
607 |
↓30 |
|||
|
Lecong |
MaSteel |
4,290 |
624 |
0 |
|||
|
Average |
- |
4,227 |
615 |
↓13 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,380 |
638 |
↓10 |
|
Tianjin |
Anshan Steel |
4,410 |
642 |
↓20 |
|||
|
Lecong |
Anshan Steel |
4,400 |
640 |
0 |
|||
|
Average |
- |
4,397 |
640 |
↓10 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB