Demand slackens in local Chinese CRC market

Wednesday, 15 May 2019 17:06:44 (GMT+3)   |   Shanghai
       

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


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