During the week ending April 18, average cold rolled coil (CRC) prices in the Chinese domestic market have fluctuated slightly, with slight declines seen in CRC prices and minor upticks observed in cold rolled sheet (CRS) prices, 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, major domestic steel producer Ansteel issued its official CRC prices for May delivery, keeping them stable, though its customers said that the steelmaker is offering them a RMB 100/mt ($16/mt) discount. Furthermore, the southern China branch of Ansteel has recently offered a RMB 100/mt ($16/mt) discount via its online sales platform as compared to product prices in the spot market, negatively influencing CRC prices in the spot market. Meanwhile, the cut in the reserve requirement ratio announced by China’s central bank has positively impacted sentiment in the CRC market. It is thought that CRC prices in the Chinese domestic market will move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,530 |
721 |
0 |
|
Tianjin |
Tangshan Steel |
4,460 |
710 |
0 |
|||
|
Lecong |
MaSteel |
4,480 |
713 |
↓20 |
|||
|
Average |
- |
4,490 |
715 |
↓6 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,540 |
723 |
↑40 |
|
Tianjin |
Anshan Steel |
4,880 |
777 |
↑20 |
|||
|
Lecong |
Anshan Steel |
4,680 |
745 |
↓10 |
|||
|
Average |
- |
4,700 |
748 |
↑17 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.28 RMB