During the week ending June 29, in the Chinese domestic market average cold rolled coil (CRC) prices have rebounded slightly, while transaction activity in the overall market has been at decent levels. Average cold rolled product prices in the local Chinese market are presented in the table below.
During the given week, the merger plan for major Chinese steel producers Wuhan Iron and Steel Group (WISCO) and Baosteel and the upward movement of hot rolled product prices have provided a certain degree of support for local CRC prices. Currently, inventories held by traders are on the high side, exerting some downward pressure on CRC prices. It is thought that CRC prices in the Chinese domestic market will likely just indicate some slight fluctuations in the coming week.
Product name | Spec. | Category | 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 | 2,910 | 438 | ↓30 |
Tianjin | Tangshan Steel | 2,680 | 403 | ↑60 | |||
Lecong | MaSteel | 2,900 | 436 | ↑40 | |||
Average | - | 2,830 | 426 | ↑23 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,040 | 457 | ↓40 |
Tianjin | Anshan Steel | 3,430 | 516 | ↔0 | |||
Lecong | Anshan Steel | 3,250 | 489 | ↑40 | |||
Average | - | 3,240 | 487 | ↔0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.65 RMB