During the week ending May 15, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have declined, while transaction activity in the overall market has been slacker than in the previous week and is now at medium-to-low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, Chinese domestic ferrous metal futures prices have indicated a downward trend, exerting a negative impact on CRC prices in the domestic spot market. Meanwhile, with the traditional off-season arriving amid the warmer weather conditions, the demand from downstream users has been slack, resulting in more sluggish transaction activity in the market compared to the previous week. 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) |
Change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,290 |
624 |
↓60 |
|
Tianjin |
Tangshan Steel |
4,210 |
613 |
↓100 |
|||
|
Lecong |
MaSteel |
4,380 |
638 |
↓40 |
|||
|
Average |
- |
4,293 |
625 |
↓67 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,420 |
643 |
↓70 |
|
Tianjin |
Anshan Steel |
4,330 |
630 |
↓100 |
|||
|
Lecong |
Anshan Steel |
4,580 |
667 |
↓40 |
|||
|
Average |
- |
4,443 |
647 |
↓70 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB