During the week ending March 14, average cold rolled coil (CRC) prices in the Chinese domestic market have decreased, 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, significant decreases in ferrous metal futures prices in China have contributed to the downward trend of CRC prices in the domestic spot market. Meanwhile, demand has not yet recovered. CRC supplies arriving in the market have been on the low side and traders have been unwilling to sell at prices which they consider to be too low. At the same time, demand is expected to improve in the coming period. 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 |
4,570 |
723 |
↓150 |
Tianjin |
Tangshan Steel |
4,660 |
737 |
0 |
|||
Lecong |
MaSteel |
4,580 |
725 |
↓220 |
|||
Average |
- |
4,604 |
728 |
↓123 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,590 |
726 |
↓180 |
Tianjin |
Anshan Steel |
4,650 |
736 |
↓400 |
|||
Lecong |
Anshan Steel |
4,680 |
741 |
↓430 |
|||
Average |
- |
4,640 |
734 |
↓337 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.32 RMB