During the week ending January 23, average cold rolled coil (CRC) prices in the Chinese domestic market have moved up 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 rebounded, exerting a positive impact on the domestic CRC market. Demand for CRC has been slack due to the approach of the Chinese New Year holiday (February 2-10), though certain traders have been seeking to build up some stocks ahead of the holiday. 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) |
Weekly change (RMB/mt) |
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,150 |
611 |
↑30 |
Tianjin |
Tangshan Steel |
4,160 |
613 |
↑40 |
|||
Lecong |
MaSteel |
4,270 |
629 |
↑20 |
|||
Average |
- |
4,193 |
618 |
↑30 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,220 |
622 |
↑40 |
Tianjin |
Anshan Steel |
4,410 |
649 |
↑40 |
|||
Lecong |
Anshan Steel |
4,320 |
636 |
↑20 |
|||
Average |
- |
4,317 |
636 |
↑33 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.79 RMB