As of August 2, the Chinese domestic cold rolled coil (CRC) market has moved upwards on week-on-week basis, 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.
At the beginning of the given week, hot rolled coil futures prices in China softened, negatively impacting the trend of cold rolled coil prices in the domestic spot market. Later in the given week, due to the impact of environmental inspections, iron ore, rebar and hot rolled coil futures prices rose sharply, pushing up CRC market prices. Inventory levels of CRC have decreased, also providing support for CRC prices. However, following recent strong rises, finished steel prices may come under downward pressure in the coming period. It is thought that CRC prices in the Chinese domestic market will likely 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 |
4,430 |
659 |
↑80 |
|
Tianjin |
Tangshan Steel |
4,290 |
638 |
↑40 |
|||
|
Lecong |
MaSteel |
4,510 |
671 |
↑90 |
|||
|
Average |
- |
4,410 |
656 |
↑70 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,450 |
662 |
↑130 |
|
Tianjin |
Anshan Steel |
4,500 |
670 |
↑40 |
|||
|
Lecong |
Anshan Steel |
4,520 |
673 |
↑90 |
|||
|
Average |
- |
4,490 |
668 |
↑8 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.72 RMB