During the week ending July 3, average CRC prices in the Chinese domestic market have moved up, while transaction activity in the overall market has been at medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, ferrous metal futures prices in China have increased, while the Ministry of Ecology and Environment (MEE) has announced that a second round of environmental protection inspections will start soon, with both these developments providing support for domestic CRC prices, with the latter giving rise to expectations of reduced supply to the market. It is thought that CRC prices in the Chinese domestic market will move up just slightly in the coming week, while demand is unlikely to indicate any significant improvement due to the current offseason.
|
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 |
4.230 |
612 |
↑60 |
|
Tianjin |
Tangshan Steel |
4.200 |
608 |
↑80 |
|||
|
Lecong |
MaSteel |
4.290 |
621 |
↑80 |
|||
|
Average |
- |
4.240 |
614 |
↑73 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4.390 |
635 |
↑60 |
|
Tianjin |
Anshan Steel |
4.430 |
641 |
↑80 |
|||
|
Lecong |
Anshan Steel |
4.400 |
637 |
↑100 |
|||
|
Average |
- |
4.407 |
638 |
↑80 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.91 RMB