During the week ending May 20, prices in the Chinese domestic cold rolled coil (CRC) market have moved on a downward trend, while transaction activity in the overall market has been at low levels. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, semi-finished steel prices have indicated downward movement in Tangshan, a major market in China. Meanwhile, domestic HRC prices in China have also softened, exerting a negative impact on the local CRC market. As the end of the month is approaching, traders will come under pressure from tight liquidity, which will likely force them to their lower prices in the coming period. Moreover, supply volumes are currently at relatively high levels, with traders eager to sell at lower prices to bring in funds. It is expected that CRC prices in the Chinese domestic market will edge down slightly in the coming week.
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 |
3,010 |
485 |
0 |
Tianjin |
Tangshan Steel |
2,980 |
481 |
↓20 |
|||
Lecong |
MaSteel |
3,100 |
500 |
↓50 |
|||
Average |
- |
3,030 |
489 |
↓23 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
3,080 |
497 |
0 |
Tianjin |
Anshan Steel |
3,310 |
534 |
↓30 |
|||
Lecong |
Anshan Steel |
3,220 |
519 |
↓20 |
|||
Average |
- |
3,203 |
517 |
↓17 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20