During the week ending November 15, average cold rolled coil (CRC) prices in the Chinese domestic market have continued to move on an upward trend, while transaction activity in the overall market has been at low-to-medium levels, though seeing improvement compared to the previous week. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, due to production cuts in northern China during the winter season, prevailing optimistic sentiment in the domestic CRC market has resulted in increased prices. Meanwhile, major Chinese steelmaker Ansteel has issued its ex-works prices for December delivery, raising its CRC prices by RMB 100/mt ($15/mt), which will provide support for CRC spot prices. It is thought that CRC prices in the Chinese domestic market will edge up slightly in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,800 |
724 |
↑30 |
|
Tianjin |
Tangshan Steel |
4,690 |
707 |
↑50 |
|||
|
Lecong |
MaSteel |
4,890 |
738 |
↑110 |
|||
|
Average |
- |
4,793 |
723 |
↑63 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,820 |
727 |
↑70 |
|
Tianjin |
Anshan Steel |
5,050 |
762 |
↑160 |
|||
|
Lecong |
Anshan Steel |
4,930 |
744 |
↑110 |
|||
|
Average |
- |
4,933 |
744 |
↑113 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.63 RMB