During the week ending August 7, average CRC prices in the Chinese domestic market have edged down slightly, 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.
During the given week, HRC futures prices at Shanghai Futures Exchange (SHFE) have softened, domestic demand for CRC has failed to improve, while iron ore prices have moved down, with all these factors weakening the support for domestic CRC prices in China. The very hot weather conditions in China are foreseen to continue, negatively affecting demand for CRC. It is expected that CRC prices in the Chinese domestic market will fluctuate within a limited range 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 |
4,270 |
611 |
↓20 |
Tianjin |
Tangshan Steel |
4,310 |
617 |
0 |
|||
Lecong |
MaSteel |
4,290 |
614 |
↓20 |
|||
Average |
- |
4,290 |
614 |
↓13 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,320 |
618 |
↓10 |
Tianjin |
Anshan Steel |
4,550 |
651 |
0 |
|||
Lecong |
Anshan Steel |
4,350 |
622 |
0 |
|||
Average |
- |
4,407 |
630 |
↓3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.99 RMB