Chinese domestic CRC prices edge down slightly

Wednesday, 07 August 2019 15:48:01 (GMT+3)   |   Shanghai
       

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


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