During the week ending July 15, prices in the Chinese domestic cold rolled coil (CRC) market have continued their declining trend, while transaction activity in the overall market has remained slack. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, major domestic steel producer Baosteel has cut its CRC prices by RMB 80/mt ($13/mt) for August delivery, exerting a negative impact on CRC prices in the spot market. Meanwhile, some CRC producers will resume production after completing their maintenance works, and this will likely increase CRC supply to the market and will negatively affect prices. It is expected that CRC prices in the Chinese domestic market will move on a slight downtrend in the coming week due to slack demand in traditional offseason during summer.
| Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 2,710 | 436 | ↓90 |
| Tianjin | Tangshan Steel | 2,480 | 399 | ↓70 | |||
| Lecong | MaSteel | 2,650 | 427 | ↓100 | |||
| Average | - | 2,613 | 421 | ↓87 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,740 | 441 | ↓100 |
| Tianjin | Anshan Steel | 2,840 | 457 | ↓90 | |||
| Lecong | Anshan Steel | 2,700 | 435 | ↓100 | |||
| Average | - | 2,760 | 444 | ↓97 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21