During the week ending May 23, average cold rolled coil (CRC) prices in the Chinese domestic market have mostly moved sideways, 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 latter part of the past week, HRC futures prices in China have edged down, exerting some negative pressure on the local CRC market. Despite the arrival of some new CRC supplies, inventories in the CRC market are still at relatively low levels. The rainy weather in China has negatively affected the demand situation in the market. It is thought that CRC prices in the Chinese domestic market will likely 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 |
4,600 |
720 |
↑10 |
|
Tianjin |
Tangshan Steel |
4,500 |
704 |
↑10 |
|||
|
Lecong |
MaSteel |
4,630 |
725 |
↓20 |
|||
|
Average |
- |
4,577 |
716 |
0 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,600 |
720 |
0 |
|
Tianjin |
Anshan Steel |
4,810 |
753 |
0 |
|||
|
Lecong |
Anshan Steel |
4,710 |
737 |
↓30 |
|||
|
Average |
- |
4,707 |
737 |
↓1 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.39 RMB