During the week ending March 7, average cold rolled coil (CRC) prices in the Chinese domestic market have decreased, while transaction activity in the overall market has been at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, since ferrous metals futures prices in China have declined, domestic CRC prices have been negatively affected and edged down. Meanwhile, following the rapid rises in CRC prices during the previous week, market participants are now somewhat more cautious as regards the future prospects for the CRC market. However, inventories after the Chinese New Year holiday are not at high levels, which has limited the decreases in traders’ prices. It is thought that CRC prices will likely edge up or move sideways in the week ahead as demand will be better in the coming period.
|
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 |
4,720 |
747 |
0 |
|
Tianjin |
Tangshan Steel |
4,660 |
737 |
↓100 |
|||
|
Lecong |
MaSteel |
4,800 |
759 |
↓50 |
|||
|
Average |
- |
4,727 |
748 |
↓50 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,770 |
755 |
↓100 |
|
Tianjin |
Anshan Steel |
5,050 |
799 |
↓140 |
|||
|
Lecong |
Anshan Steel |
5,110 |
809 |
↓80 |
|||
|
Average |
- |
4,977 |
787 |
↓107 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.32 RMB