During the week ending November 8, average cold rolled coil (CRC) prices in the Chinese domestic market have increased, 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, market participants have mostly held an optimistic view of the future prospects for the local CRC market due to the production cuts planned for the winter season. Meanwhile, against the backdrop of the rising trend of CRC prices, transaction activity in the market has been good. 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 |
4,770 |
718 |
↑40 |
|
Tianjin |
Tangshan Steel |
4,640 |
699 |
0 |
|||
|
Lecong |
MaSteel |
4,780 |
720 |
0 |
|||
|
Average |
- |
4,730 |
712 |
↑13 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,750 |
715 |
↑50 |
|
Tianjin |
Anshan Steel |
4,890 |
736 |
↑10 |
|||
|
Lecong |
Anshan Steel |
4,820 |
726 |
↑20 |
|||
|
Average |
- |
4,820 |
726 |
↑27 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.64 RMB