As of May 9, average cold rolled coil (CRC) prices in the Chinese domestic market have increased slightly week on week, 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.
In the first part of the given week, the rising trend of hot rolled coil (HRC) prices in China provided support for the upward movement of domestic CRC prices, though CRC prices edged down in the latter part of the week as demand failed to improve. Currently, inventories are being consumed, which has a positive impact on CRC prices. However, ferrous metal futures prices in China have softened, which will negatively influence the CRC market. It is thought 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) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,590 |
719 |
↑20 |
|
Tianjin |
Tangshan Steel |
4,450 |
697 |
↓40 |
|||
|
Lecong |
MaSteel |
4,630 |
726 |
↑50 |
|||
|
Average |
- |
4,557 |
714 |
↑10 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,610 |
723 |
0 |
|
Tianjin |
Anshan Steel |
4,820 |
755 |
↑10 |
|||
|
Lecong |
Anshan Steel |
4,720 |
740 |
↑20 |
|||
|
Average |
- |
4,717 |
739 |
↑10 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.38 RMB