During the week ending September 4, average CRC prices in the Chinese domestic market have edged up, 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.
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
1.0 x 1,250 x C |
SPCC |
4,260 |
+30 |
602 |
+4 |
|
CRS |
1.0 x 1,250 x 2,500 |
SPCC |
4,350 |
+23 |
614 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
The situation in the local CRC market has improved due to the sharp rises seen in the iron ore market and the increases in HRC prices and in ferrous metal futures prices. Meanwhile, in order to ensure clean air conditions for the 70th anniversary of the foundation of the People’s Republic of China, stricter environmental protection measures have been implemented in Tangshan, China’s major steelmaking hub, which has boosted market players’ confidence due to the anticipated tightness of supply. However, the rainy weather still negatively affects demand for CRC and the situation in the main consuming industries remains negative. Accordingly, CRC prices in China will be mostly depend on the changes in local HRC prices in the coming week.
$1 = RMB 7.08