During the week ending May 24, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have increased, while transaction activity in the overall market has improved and is now at decent levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, Chinese domestic CRC prices have indicated a rising trend with support from lower inventory levels and higher domestic ferrous metal futures prices. Market sentiment has improved, resulting in better transaction activity. Against the backdrop of ongoing environmental protection measures impacting steel production, it is thought that CRC prices in the Chinese domestic market will likely move up slightly 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 | 3,830 | 556 | ↑140 |
| Tianjin | Tangshan Steel | 3,700 | 537 | 0 | |||
| Lecong | MaSteel | 3,880 | 563 | ↑80 | |||
| Average | - | 3,803 | 552 | ↑73 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,820 | 554 | ↑100 |
| Tianjin | Anshan Steel | 3,860 | 560 | ↑150 | |||
| Lecong | Anshan Steel | 3,930 | 570 | ↑50 | |||
| Average | - | 3,820 | 554 | ↑50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB