During the week ending March 22, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have indicated a significant declining trend, while transaction activity in the overall market has been slacker than the previous week and now at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, though rebound trend has been seen for domestic semi-finished steel prices in the latter part of the passing week, limited impact has been made to the CRC prices in the domestic spot market, while average cold rolled coil (CRC) and cold rolled sheet (CRS) prices have decreased significantly. The downtrend seen in ferrous metal futures prices in China have also exerted negative impact on CRC prices in the market. Meanwhile, the recent increases in arrivals of new supplies in the market have negatively influenced on domestic CRC prices. As for the coming week, liquidity is expected to be tighter due to the approach of the end of the month, while it is expected that CRC prices in the Chinese domestic market will likely edge 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 | 4,200 | 610 | ↓250 |
Tianjin | Tangshan Steel | 4,200 | 610 | ↓360 | |||
Lecong | MaSteel | 4,350 | 631 | ↓250 | |||
Average | - | 4,250 | 617 | ↓287 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 4,480 | 650 | ↓200 |
Tianjin | Anshan Steel | 4,850 | 704 | ↓150 | |||
Lecong | Anshan Steel | 4,400 | 639 | ↓250 | |||
Average | - | 4,577 | 664 | ↓200 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB