During the week ending May 18, in the Chinese domestic market average cold rolled coil (CRC) and cold rolled sheet (CRS) prices have indicated an overall downward trend, while transaction activity in the overall market has remained at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, CRC prices in the Chinese domestic market have continued their downward trend, though with slower downward movement compared to the previous week. Some traders whose supplies are on the short side have chosen to keep their prices stable, while those who do not have any shortages on the supply side have decreased their offer prices in order to stimulate purchasing activity. It is thought that CRC prices in the Chinese domestic market will likely 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 | 3,300 | 505 | ↓70 |
Tianjin | Tangshan Steel | 3,050 | 466 | ↓50 | |||
Lecong | MaSteel | 3,300 | 505 | ↓200 | |||
Average | - | 3,217 | 492 | ↓107 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,400 | 520 | ↓100 |
Tianjin | Anshan Steel | 3,550 | 543 | - | |||
Lecong | Anshan Steel | 3,500 | 535 | ↓400 | |||
Average | - | 3,484 | 533 | ↓166 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.54 RMB