During the week ending July 29, prices in the Chinese domestic cold rolled coil (CRC) market have continued their decreasing trend, while transaction activity in the overall market has remained slack. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, whereas some increases have been seen in prices of rebar and wire rod, prices of hot rolled coil (HRC) and CRC in China have indicated downward movement. Tighter liquidity near the end of the month has negatively affected CRC prices. Meanwhile, it is thought that domestic CRC prices are approaching bottom levels and that room for further downward movement in the coming period will be limited. It is believed that CRC prices in the Chinese domestic market will mostly likely move on a stable trend in the coming week, though some slight downticks are also possible.
Product name | Spec. | Category | 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 | 2,580 | 415 | ↓80 |
Tianjin | Tangshan Steel | 2,480 | 399 | 0 | |||
Lecong | MaSteel | 2,600 | 419 | ↓50 | |||
Average | - | 2,553 | 411 | ↓43 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,600 | 419 | ↓30 |
Tianjin | Anshan Steel | 2,790 | 449 | ↓50 | |||
Lecong | Anshan Steel | 2,620 | 422 | ↓50 | |||
Average | - | 2,670 | 430 | ↓43 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21