During the week ending September 7, the Chinese domestic cold rolled coil (CRC) market has indicated a downward trend, while transaction activity in the overall market has been slacker than in the previous week and is now at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, ferrous metal futures prices in China have softened, exerting a negative impact on CRC prices. However, as market participants are still confident as regards the prospects for the market in September and October, they mostly think the downtrend in CRC prices is just due to the temporary influence of the soft trend of futures prices and that domestic CRC prices will likely increase at a later stage. It is thought that CRC prices in the Chinese domestic market will move sideways 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 | 3,480 | 523 | 0 |
| Tianjin | Tangshan Steel | 3,420 | 514 | ↓160 | |||
| Lecong | MaSteel | 3,470 | 521 | 0 | |||
| Average | - | 3,457 | 519 | ↓53 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,500 | 526 | ↓50 |
| Tianjin | Anshan Steel | 3,700 | 556 | ↓50 | |||
| Lecong | Anshan Steel | 3,570 | 536 | ↓30 | |||
| Average | - | 3,590 | 539 | ↓44 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.66 RMB