As of October 10, average cold rolled coil (CRC) prices in the Chinese domestic market have declined on week-on-week basis, while transaction activity in the overall market has been at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table
During the given week, inventory levels of CRC in China have increased due to the long holiday, exerting a negative impact on domestic CRC prices. However, demand from downstream users has not recovered to decent levels after the holiday. On the other hand, HRC futures prices at Shanghai Futures Exchange (SHFE) have followed a rising trend in the past three trading days, which will positively affect the HRC market. It is expected that CRC prices in the Chinese domestic market will 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 |
4,820 |
697 |
↓40 |
|
Tianjin |
Tangshan Steel |
4,800 |
694 |
↓60 |
|||
|
Lecong |
MaSteel |
4,820 |
697 |
↓70 |
|||
|
Average |
- |
4,813 |
696 |
↓57 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,890 |
707 |
↓60 |
|
Tianjin |
Anshan Steel |
4,970 |
718 |
↓20 |
|||
|
Lecong |
Anshan Steel |
5,030 |
727 |
↓30 |
|||
|
Average |
- |
4,963 |
717 |
↓37 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.92 RMB