During the week ending June 22, in the Chinese domestic market average cold rolled coil (CRC) and cold rolled sheet (CRS) prices have decreased, 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 given week, the traditional offseason in summer has exerted a negative impact on demand for CRC, resulting in slack activity in the market. Meanwhile, the overall declining trend in the finished steel market has negatively affected confidence among CRC traders, with mostly of them selling at lower prices in order to stimulate transaction activity. Currently, the stormy weather in the middle and lower reaches of the Yangtze river is exerting a negative influence on demand for CRC. It is thought that CRC prices in the Chinese domestic market will likely edge down 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 |
2,940 |
447 |
↓20 |
Tianjin |
Tangshan Steel |
2,620 |
398 |
↓80 |
|||
Lecong |
MaSteel |
2,860 |
435 |
0 |
|||
Average |
- |
2,807 |
427 |
↓33 |
|||
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
3,080 |
468 |
↓20 |
Tianjin |
Anshan Steel |
3,430 |
521 |
↓20 |
|||
Lecong |
Anshan Steel |
3,210 |
488 |
0 |
|||
Average |
- |
3,240 |
492 |
↓14 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.58 RMB