During the week ending January 31, average cold rolled coil (CRC) prices in the Chinese domestic market have fluctuated slightly, 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, demand in the domestic CRC market is slack due to the approach of the Chinese New Year holiday (February 15-21), though some traders have started to build up CRC stocks ahead of the holiday, providing a certain degree of support for CRC prices. HRC futures prices at Shanghai Futures Exchange (SHFE) have lately softened slightly, which will likely exert negative pressure on CRC prices in the spot market. It is thought that CRC prices in the Chinese domestic market will likely fluctuate on a slight downtrend 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 |
4,700 |
747 |
↓20 |
|
Tianjin |
Tangshan Steel |
4,600 |
731 |
↑30 |
|||
|
Lecong |
MaSteel |
4,800 |
763 |
↓80 |
|||
|
Average |
- |
4,700 |
747 |
↓23 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,780 |
760 |
↓10 |
|
Tianjin |
Anshan Steel |
5,030 |
800 |
↑80 |
|||
|
Lecong |
Anshan Steel |
5,170 |
822 |
↑20 |
|||
|
Average |
- |
4,993 |
794 |
↑30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.29 RMB