During the week ending May 22, average cold rolled coil (CRC) prices in the Chinese domestic market have edged down 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, traders have mostly been downbeat as regards the future prospects for the trend of the local CRC market. Downstream users have only been willing to conclude purchases of low-priced products. In April, production and sales of automotive vehicles in China indicated year-on-year declines of 11.0 percent and 12.1 percent, respectively, which has exerted a negative impact on the CRC market and this negative impact is expected to continue. It is expected that CRC prices in the Chinese domestic market will decline further in the coming week.
|
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 |
4,270 |
619 |
↓20 |
|
Tianjin |
Tangshan Steel |
4,210 |
610 |
0 |
|||
|
Lecong |
MaSteel |
4,360 |
632 |
↓20 |
|||
|
Average |
- |
4,280 |
620 |
↓13 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,390 |
636 |
↓30 |
|
Tianjin |
Anshan Steel |
4,350 |
630 |
↑20 |
|||
|
Lecong |
Anshan Steel |
4,540 |
658 |
↓40 |
|||
|
Average |
- |
4,427 |
642 |
↓17 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.90 RMB