During the week ending September 18, average cold rolled coil (CRC) prices in the Chinese domestic market have edged down, with transaction activity in the overall market being at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
1.0 x 1,250 x C |
SPCC |
4,253 |
-23 |
601 |
-3 |
|
CRS |
1.0 x 1,250 x 2,500 |
SPCC |
4,343 |
-20 |
614 |
-2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
Following the Mid-Autumn Day holiday, demand for CRC in China has not improved, causing traders to cut their prices in order to stimulate sales activities. Meanwhile, market players’ sentiments have become cautious amid downtrend seen in ferrous metal futures prices. It is expected that CRC prices in the Chinese domestic market will move sideways as production restrictions implemented ahead of the National Day holiday will prevent CRC prices from decreasing further.
$1 = RMB 7.07
