During the week ending March 6, average cold rolled coil (CRC) prices in the Chinese domestic market have moved up, while transaction activity in the overall market has been better, though still at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
Ferrous metal futures prices at Shanghai Futures Exchange (SHFE) increased early in the past week, while some traders’ inventories of certain CRC specifications were on the low side, with these exerting a positive impact on CRC prices in the domestic spot market. However, ferrous metal futures prices at the SHFE have since softened, while the ongoing rainy weather conditions in eastern and southern China are negatively influencing demand for CRC. It is expected that CRC prices in the Chinese domestic market will move sideways 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 |
4,320 |
644 |
↑30 |
|
Tianjin |
Tangshan Steel |
4,290 |
639 |
↑50 |
|||
|
Lecong |
MaSteel |
4,400 |
656 |
↑20 |
|||
|
Average |
- |
4,337 |
646 |
↑33 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,430 |
660 |
↑40 |
|
Tianjin |
Anshan Steel |
4,540 |
677 |
↑50 |
|||
|
Lecong |
Anshan Steel |
4,620 |
689 |
↑20 |
|||
|
Average |
- |
4,530 |
675 |
↑37 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.71 RMB