During the week ending January 30, average cold rolled coil (CRC) prices in the Chinese domestic market have edged up, 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, import iron ore prices have moved up significantly due to the dam collapse in Brazil, providing support for CRC prices from the cost side. However, demand has been quiet as most market players have left the market ahead of the Chinese New Year holiday (February 2-10). It is expected that CRC prices in the Chinese domestic market will move sideways in the coming week and will move upwards after the holiday.
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 |
4,180 |
622 |
↑30 |
Tianjin |
Tangshan Steel |
4,170 |
621 |
↑10 |
|||
Lecong |
MaSteel |
4,290 |
638 |
↑20 |
|||
Average |
- |
4,213 |
627 |
↑20 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,270 |
635 |
↑50 |
Tianjin |
Anshan Steel |
4,420 |
658 |
↑10 |
|||
Lecong |
Anshan Steel |
4,340 |
646 |
↑20 |
|||
Average |
- |
4,343 |
646 |
↑27 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.72 RMB