During the week ending January 16, average cold rolled coil (CRC) prices in the Chinese domestic market have moved up slightly, 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, ferrous metal futures prices in China rose slightly during the first part of the week, while they moved down on January 15. As the Chinese New Year holiday (February 2-10) is approaching, demand from downstream users has been slack as most buyers have completed their purchases ahead of the holiday. Meanwhile, most market players are pessimistic as regards the future prospects for the CRC market. It is expected 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 |
4,120 |
609 |
↓20 |
Tianjin |
Tangshan Steel |
4,120 |
609 |
↑40 |
|||
Lecong |
MaSteel |
4,250 |
629 |
0 |
|||
Average |
- |
4,162 |
616 |
↑7 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,180 |
618 |
↓20 |
Tianjin |
Anshan Steel |
4,370 |
646 |
↑40 |
|||
Lecong |
Anshan Steel |
4,300 |
636 |
0 |
|||
Average |
- |
4,284 |
634 |
↑7 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.83 RMB