During the week ending January 4, the Chinese domestic cold rolled coil (CRC) market has indicated downward movement, while transaction activity in the overall market has been at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the week in question, with the approach of the Chinese New Year Holiday and given the traditional off-season amid cold winter weather conditions in China, market players are mostly maintaining a cautious stance as regards purchases due to the current relatively high price levels, resulting in low transaction activity, which has exerted negative pressure on domestic CRC prices. However, CRC inventories are still at relatively low levels in the market, which will provide some support for CRC prices. It is thought that CRC prices in the Chinese domestic market will just indicate slight fluctuations 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 |
4,880 |
703 |
↓30 |
Tianjin |
Tangshan Steel |
4,430 |
638 |
↓140 |
|||
Lecong |
MaSteel |
4,800 |
692 |
↓30 |
|||
Average |
- |
4,703 |
678 |
↓67 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,850 |
699 |
↑20 |
Tianjin |
Anshan Steel |
5,150 |
742 |
0 |
|||
Lecong |
Anshan Steel |
4,800 |
692 |
↓30 |
|||
Average |
- |
4,933 |
711 |
↓4 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.94 RMB