During the week ending August 9, the Chinese domestic cold rolled coil (CRC) market has continued its upward trend, while transaction activity in the overall market has been at medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, since domestic semi-finished steel prices have seen significant rises following the blast furnace output cuts for the coming winter season announced by the authorities in Hebei Province, local CRC prices have received a boost and have continued their rising trend. Meanwhile, ferrous metal futures prices in China have risen significantly, providing additional support for CRC prices in the spot market. However, following the rises seen in CRC prices, downstream users have become a little more cautious about concluding purchases. 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 |
4,580 |
686 |
↑150 |
|
Tianjin |
Tangshan Steel |
4,500 |
674 |
↑210 |
|||
|
Lecong |
MaSteel |
4,710 |
705 |
↑200 |
|||
|
Average |
- |
4,597 |
688 |
↑187 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,650 |
696 |
↑200 |
|
Tianjin |
Anshan Steel |
4,710 |
705 |
↑210 |
|||
|
Lecong |
Anshan Steel |
4,720 |
707 |
↑200 |
|||
|
Average |
- |
4,693 |
703 |
↑203 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.68 RMB