During the week ending October 12, the Chinese domestic cold rolled coil (CRC) market has indicated an upward trend, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
On October 11, Wuhan Iron and Steel Group issued its prices for November delivery, raising its CRC prices by RMB 100/mt ($15/mt), thereby providing support for CRC prices in the domestic spot market. Meanwhile, ferrous metal futures prices have also moved up after the long National Day Holiday (October 1-7), exerting a positive impact on CRC spot prices. It is thought that CRC prices in the Chinese domestic market will continue their rising trend in the coming week.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 3,570 | 531 | ↑80 |
Tianjin | Tangshan Steel | 3,620 | 539 | ↑110 | |||
Lecong | MaSteel | 3,550 | 528 | ↑110 | |||
Average | - | 3,580 | 533 | ↑147 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,600 | 536 | ↑80 |
Tianjin | Anshan Steel | 3,800 | 565 | ↑20 | |||
Lecong | Anshan Steel | 3,600 | 536 | ↑150 | |||
Average | - | 3,666 | 546 | ↑83 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.72 RMB