As of April 26, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have declined week on week, while transaction activity in the overall market has been at medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
In the first half of the past week, domestic CRC prices continued to decline, while some traders started to conclude purchases due to the significant decrease in prices, resulting in medium levels of transaction activity in the domestic market. In the latter part of the week, CRC prices in the spot market have indicated a rebound following the increases seen in the domestic ferrous metal futures market. Meanwhile, demand from downstream users has improved ahead of the May 1 holiday and also due to the relatively low levels of prices in the market. It is thought that CRC prices in the Chinese domestic market will move on a fluctuating trend 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 | 3,480 | 506 | ↓120 |
Tianjin | Tangshan Steel | 3,510 | 510 | ↑110 | |||
Lecong | MaSteel | 3,600 | 523 | ↓50 | |||
Average | - | 3,530 | 513 | ↓30 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,650 | 531 | ↓150 |
Tianjin | Anshan Steel | 3,940 | 573 | ↓220 | |||
Lecong | Anshan Steel | 3,660 | 532 | ↓80 | |||
Average | - | 3,750 | 545 | ↓150 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.88 RMB