During the week ending March 8, average cold rolled coil (CRC) and cold rolled sheet (CRS) prices in the Chinese domestic market have indicated a declining trend, while transaction activity in the overall market has been on the low side. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, domestic finished steel prices in China have declined, negative impacting the domestic cold rolled steel market. 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. Meanwhile, CRC inventories are still at relatively high levels in the market, and this has also contributed to the soft trend of CRC prices. It is thought that CRC prices in the Chinese domestic market will likely move down further 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 |
4,600 |
666 |
↓170 |
Tianjin |
Tangshan Steel |
4,590 |
664 |
↓110 |
|||
Lecong |
MaSteel |
4,800 |
695 |
↓130 |
|||
Average |
- |
4,663 |
675 |
↓137 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,740 |
686 |
↓120 |
Tianjin |
Anshan Steel |
5,050 |
731 |
↓150 |
|||
Lecong |
Anshan Steel |
4,820 |
698 |
↓130 |
|||
Average |
- |
4,870 |
705 |
↓133 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.91 RMB