During the week ending May 16, average cold rolled coil (CRC) prices in the Chinese domestic market have either edged up slightly or 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.
During the given week, downstream users have been willing to make purchases, exerting a positive impact on CRC prices. Meanwhile, inventory levels in the CRC market have decreased, also bolstering CRC prices. At the same time, steelmakers’ supplies of CRC to the spot market have decreased, providing support for CRC prices. However, the hot weather in China will negatively affect demand for CRC. It is expected 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 |
4,590 |
721 |
0 |
|
Tianjin |
Tangshan Steel |
4,490 |
705 |
↑40 |
|||
|
Lecong |
MaSteel |
4,650 |
730 |
↑20 |
|||
|
Average |
- |
4,577 |
719 |
↑20 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,600 |
722 |
↓10 |
|
Tianjin |
Anshan Steel |
4,810 |
755 |
↓10 |
|||
|
Lecong |
Anshan Steel |
4,740 |
744 |
↑20 |
|||
|
Average |
- |
4,717 |
741 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.37 RMB