During the week ending July 31, average CRC prices in the Chinese domestic market have edged 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, Chinese CRC producers have reduced their capacity utilization rates as it has become difficult to make a profit, resulting in tight supplies of CRC in the spot market. Meanwhile, market players expect to see better demand in September and so they are currently unwilling to sell at lower prices. At the same time, iron ore prices have remained at high levels, providing support for CRC prices. It is expected that CRC prices in the Chinese domestic market will indicate a further slight increase 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 |
4,290 |
624 |
↑30 |
|
Tianjin |
Tangshan Steel |
4,310 |
626 |
↑50 |
|||
|
Lecong |
MaSteel |
4,310 |
626 |
↑20 |
|||
|
Average |
- |
4,303 |
625 |
↑33 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,330 |
629 |
↑20 |
|
Tianjin |
Anshan Steel |
4,550 |
661 |
↑50 |
|||
|
Lecong |
Anshan Steel |
4,350 |
632 |
0 |
|||
|
Average |
- |
4,410 |
641 |
↑23 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.88 RMB