During the week ending March 13, average cold rolled coil (CRC) prices in the Chinese domestic market have indicated slight fluctuations, with minor downticks for cold rolled sheet (CRS) and slight increases for CRC, 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, domestic CRC prices have indicated slight upticks, though CRS prices in most regions of the country have declined slightly. Market sentiment has improved, resulting in better transaction activity. Major Chinese steelmaker Baosteel will issue its ex-works prices for April next week, and it is thought that there is a strong chance that it will raise its CRC prices, thereby contributing to higher costs of cold rolled supplies in the spot market. Accordingly, it is thought that CRC prices in the Chinese domestic market will likely edge up slightly 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 |
4,360 |
650 |
↑40 |
|
Tianjin |
Tangshan Steel |
4,280 |
638 |
↓10 |
|||
|
Lecong |
MaSteel |
4,400 |
656 |
0 |
|||
|
Average |
- |
4,347 |
648 |
↑10 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,480 |
668 |
↑50 |
|
Tianjin |
Anshan Steel |
4,470 |
666 |
↓70 |
|||
|
Lecong |
Anshan Steel |
4,620 |
689 |
0 |
|||
|
Average |
- |
4,523 |
674 |
↓7 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.71 RMB