During the week ending November 22, average cold rolled coil (CRC) prices in the Chinese domestic market have continued to rise, while transaction activity in the overall market has been at low-to-medium levels, though improving compared to the previous week. Average cold rolled product prices in the local Chinese market are presented in the following table.
Following a decrease at the beginning of the week, ferrous metal futures prices in China rebounded in the latter part of the past week, influencing the movement of CRC prices in the domestic spot market. Lately, CRC supplies arriving in the market have been on the low side, resulting in low inventory levels in the spot market, which provides support for CRC prices. In addition, production cuts in northern China during the winter season will reduce supply to the market. It is thought that CRC prices in the Chinese domestic market will likely move sideways 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 |
4,810 |
727 |
↑10 |
|
Tianjin |
Tangshan Steel |
4,750 |
718 |
↑60 |
|||
|
Lecong |
MaSteel |
4,920 |
743 |
↑30 |
|||
|
Average |
- |
4,826 |
729 |
↑33 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,840 |
731 |
↑20 |
|
Tianjin |
Anshan Steel |
5,110 |
772 |
↑60 |
|||
|
Lecong |
Anshan Steel |
4,960 |
749 |
↑30 |
|||
|
Average |
- |
4.970 |
751 |
↑37 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.62 RMB