During the week ending August 1, average cold rolled coil (CRC) prices in the Chinese domestic market have moved up, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, hot rolled coil (HRC) prices in China have moved on a rising trend, exerting a positive impact on domestic CRC prices. However, downstream users have been unwilling to conclude CRC purchases at the increased prices, resulting in a slackening of transaction activity. Demand is expected to be slack in the coming period due to hot weather conditions and as another typhoon is expected to hit eastern China. It is expected that CRC prices in the Chinese domestic market will move sideways in the week ahead.
|
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 |
4,780 |
703 |
↑80 |
|
Tianjin |
Tangshan Steel |
4,600 |
676 |
↑30 |
|||
|
Lecong |
MaSteel |
4,780 |
703 |
↑110 |
|||
|
Average |
- |
4,720 |
694 |
↑73 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,820 |
709 |
↑100 |
|
Tianjin |
Anshan Steel |
4,770 |
701 |
↑30 |
|||
|
Lecong |
Anshan Steel |
4,880 |
718 |
↑30 |
|||
|
Average |
- |
4,823 |
709 |
↑53 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.80 RMB