During the week ending October 30, average cold rolled coil (CRC) prices in the Chinese domestic market have edged down, with transaction activity in the overall market being at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
1.0 x 1,250 x C |
SPCC |
4,173 |
-10 |
591 |
0 |
|
CRS |
1.0 x 1,250 x 2,500 |
SPCC |
4,290 |
-10 |
608 |
0 |
|
|
|
|
|
|
|
All prices are ex-warehouse and include 13 percent VAT.
During the given week, market players have been cautious as regards the future prospects for the market, and this has exerted a negative impact on CRC prices. Demand from downstream users is still slack, resulting in low-to-medium activities.
However, hot rolled coil (HRC) futures prices at the Shanghai Futures Exchange are at RMB 3,365/mt ($476.8/mt) as of October 30, up 1.6 percent from October 23, as several regions have issued emergency measures to ensure good air quality, which will provide certain support for the steel market in the near future.
$1 = RMB 7.058
