During the week ending June 12, average cold rolled coil (CRC) prices in the Chinese domestic market have softened slightly, though average CRS prices have edged upwards, 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, inventories in the Chinese CRC market have been at relatively low levels, while demand for CRC has been slack, weakening the support for CRC prices. However, in the past two days, due to reports of an imminent supply shortage at Rio Tinto in July and August, iron ore futures prices at Dalian Commodity Exchange (DCE) indicated sharp rises, which provided support for the CRC market. However, demand for CRC is unlikely to improve due to the approach of the rainy season in southern China. It is expected that CRC prices will move on a soft trend in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,180 |
604 |
↓40 |
|
Tianjin |
Tangshan Steel |
4,100 |
592 |
↑30 |
|||
|
Lecong |
MaSteel |
4,190 |
605 |
↓40 |
|||
|
Average |
- |
4,157 |
601 |
↓17 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,380 |
633 |
↑10 |
|
Tianjin |
Anshan Steel |
4,310 |
623 |
↑100 |
|||
|
Lecong |
Anshan Steel |
4,310 |
623 |
↓30 |
|||
|
Average |
- |
4,333 |
626 |
↓27 |
13 percent VAT is included in all prices and all prices are ex↓warehouse.
$1 = 6.92 RMB