During the week ending March 29, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have indicated significant declines, while transaction activity in the overall market has been better than in the previous week and is now at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, weak sentiment has prevailed in the market as ferrous metal futures prices in China have declined significantly, exerting negative pressure on domestic cold rolled prices in the spot market. Meanwhile, overall inventory levels of CRC are still at relatively high levels, exerting downward pressure on prices. At present, most traders are maintaining a wait-and-see stance towards the future trend of the market, while it is expected that CRC prices in the Chinese domestic market will likely move down further 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 |
3,940 |
572 |
↓260 |
Tianjin |
Tangshan Steel |
3,830 |
556 |
↓370 |
|||
Lecong |
MaSteel |
3,970 |
576 |
↓380 |
|||
Average |
- |
3,913 |
568 |
↓337 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,240 |
615 |
↓240 |
Tianjin |
Anshan Steel |
4,500 |
653 |
↓350 |
|||
Lecong |
Anshan Steel |
4,010 |
582 |
↓390 |
|||
Average |
- |
4,250 |
617 |
↓327 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB