Chinese domestic CRC prices move up slightly

Wednesday, 16 January 2019 16:28:27 (GMT+3)   |   Shanghai
       

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


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