During the week ending May 13, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a slight downtrend, while transaction activity in the overall market has remained at low levels. Average CRC prices in the local Chinese market are presented in the following table.
During the given week, there have been significant volumes of new CRC products arriving in the market, exacerbating the imbalance between supply and demand, while the overall declining price trend in the market has resulted in bearish sentiment among market participants. Meanwhile, next week steelmakers and traders will hold meetings to negotiate bookings, with booking prices expected to decline. It is thought that CRC prices in the Chinese domestic market will likely move on a decreasing trend 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 | 3,010 | 485 | 0 |
Tianjin | Tangshan Steel | 3,000 | 484 | ↓10 | |||
Lecong | MaSteel | 3,150 | 508 | ↓40 | |||
Average | - | 3,053 | 492 | ↓17 | |||
Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 3,080 | 497 | ↓30 |
Tianjin | Anshan Steel | 3,340 | 539 | ↓10 | |||
Lecong | Anshan Steel | 3,240 | 523 | ↓40 | |||
Average | - | 3,220 | 519 | ↓27 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20