During the week ending November 7, average cold rolled coil (CRC) prices in the Chinese domestic market have declined, 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, ferrous metal futures prices in China have moved down and demand for CRC has been slack, with these factors weakening the support for CRC prices in the domestic spot market and contributing to the negative sentiment in the market. Meanwhile, the sales prices of CRC in the spot market are lower than booking prices from steelmakers. Furthermore, the rainy and cold weather conditions in China will result in a slackening of demand from downstream users. It is expected that CRC prices in the Chinese domestic market will continue to move down in the coming period.
|
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 |
4,640 |
671 |
↓20 |
|
Tianjin |
Tangshan Steel |
4,640 |
671 |
↓100 |
|||
|
Lecong |
MaSteel |
4,680 |
676 |
↓60 |
|||
|
Average |
- |
4,653 |
672 |
↓60 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,680 |
676 |
↓40 |
|
Tianjin |
Anshan Steel |
4,830 |
698 |
↓70 |
|||
|
Lecong |
Anshan Steel |
4,810 |
695 |
↓60 |
|||
|
Average |
- |
4,773 |
690 |
↓57 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.92 RMB