During the week ending March 27, average cold rolled coil (CRC) prices in the Chinese domestic market have edged down 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, a significant volume of CRC supply from Tianjin-based Tiantie Metallurgy Group has arrived in the spot market, increasing pressure from the supply side and resulting in a slight decline in CRC prices. Meanwhile, ferrous metal futures prices in China have edged down in the latter part of the given week, exerting a negative impact on the CRC market. However, April is expected to be a peak month for business, and this will provide solid support for CRC prices. 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) |
Change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,400 |
655 |
↓10 |
|
Tianjin |
Tangshan Steel |
4,310 |
641 |
0 |
|||
|
Lecong |
MaSteel |
4,440 |
661 |
0 |
|||
|
Average |
- |
4,383 |
652 |
↓3 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,510 |
671 |
↓10 |
|
Tianjin |
Anshan Steel |
4,460 |
664 |
↓40 |
|||
|
Lecong |
Anshan Steel |
4,660 |
693 |
0 |
|||
|
Average |
- |
4,543 |
676 |
↓17 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.72 RMB