During the week ending August 16, the Chinese domestic cold rolled coil (CRC) market has declined slightly, 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, ferrous metals futures prices in China have decreased, exerting a negative impact on the domestic CRC market, while buyers have become a bit more cautious about concluding purchases given the previous rapid increases in prices. However, CRC traders have supplies in hand which they booked in July, June and even in May, resulting in adequate profit margins for now. Accordingly, some traders have been willing to sell at lower prices in order to bring in cash. It is thought that CRC prices in the Chinese domestic market will soften 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 |
4,620 |
691 |
↑40 |
|
Tianjin |
Tangshan Steel |
4,440 |
664 |
↓60 |
|||
|
Lecong |
MaSteel |
4,690 |
701 |
↓20 |
|||
|
Average |
- |
4,583 |
685 |
↓14 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,660 |
697 |
↑10 |
|
Tianjin |
Anshan Steel |
4,650 |
695 |
↓60 |
|||
|
Lecong |
Anshan Steel |
4,700 |
703 |
↓20 |
|||
|
Average |
- |
4,670 |
698 |
↓23 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.69 RMB