During the week ending November 13, average cold rolled coil (CRC) prices in the Chinese domestic market have edged up, with transaction activity in the overall market 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 |
4,193 |
+23 |
599 |
+4 |
|
|
CRS |
1.0 x 1,250 x 2,500 |
SPCC |
4,306 |
+20 |
615 |
+3 |
|
|
|
|
|
|
|
|
All prices are ex-warehouse and include 13 percent VAT.
During the given week, the inventory of CRC has been at low levels, providing support for the CRC market. However, with the approach of the cold winter weather, market players remain cautious on the future prospects for the CRC market and have been seeking to sell instead of building up high levels of stocks.
Average hot rolled coil (HRC) spot prices in China have increased slightly over the past week, up RMB 15/mt ($2.1/mt) to RMB 3,610/mt ($516/mt) ex-warehouse, according to SteelOrbis’ data.
$1 = RMB 7.0026