Downtrend in Chinese domestic CRC market to revert this week

Wednesday, 14 August 2019 11:57:28 (GMT+3)   |   Shanghai
       

During the week ending August 14, average CRC prices in the Chinese domestic market have edged down, with transaction activity in the overall market being at low-to-medium levels, however, recent increase of HRC prices will support CRC tags in the near future. Average cold rolled product prices in the local Chinese market are presented in the following table. 

During the given week, following typhoon Lekima hitting coastal area in eastern China, high temperature continued, the demand for CRC has been slack, negatively affecting the CRC prices. At the same time, HRC futures prices have moved down significantly in the first part of the given week, exerting a negative impact on CRC market. However, ferrous metal futures prices have seen a rebounding trend since August 12, providing certain support to market participants’ confidence towards prospect for the future market, which bolstered CRC prices in spot market. It is expected that CRC prices will likely edge up slightly 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

4,260

607

↓10

Tianjin

Tangshan Steel

4,270

608

↓40

Lecong

MaSteel

4,290

611

0

Average

 -

4,273

609

↓17

Thin CRS

1.0 mm x 1,250mm x 2,500 mm

ST12

Shanghai

Anshan Steel

4,320

615

0

Tianjin

Anshan Steel

4,510

642

↓40

Lecong

Anshan Steel

4,350

620

0

Average

 -

4,394

626

↓13

13 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = 7.02 RMB


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