Ex-China cold rolled coil (CRC) prices have edged down over the past week amid the decreases in local CRC prices and HRC futures prices.
At present, CRC export offers from China are in a range of around $530-545/mt FOB, for June shipment, decreasing by $5/mt on average week on week. Meanwhile, the tradable levels for ex-China CRC have been heard at $530/mt FOB, versus the range of $530-535/mt FOB last week.
During the given week, CRC prices in the Chinese domestic market have moved on a downtrend amid the prevailing cautious sentiments among market players. HRC futures prices have moved down amid the reciprocal US tariffs on China, which have now risen from 34 percent to 84 percent. China announced retaliatory measures in response, also raising the tariffs on the US to 84 percent as of April 10. The current uncertainties will exert a negative impact on the CRC market. It is expected that CRC prices in the Chinese domestic market will edge down in the coming week.
Average domestic 1.0 mm cold rolled coil spot prices in China are at RMB 3,733/mt ($518.5/mt) ex-warehouse, decreasing by RMB 34/mt ($4.7/mt) compared to April 2, according to SteelOrbis’ information.
As of April 9, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,208/mt ($446/mt), decreasing by RMB 144/mt ($20/mt) or 4.3 percent since April 2, while down 1.11 percent compared to the previous trading day, April 8.
$1 = RMB 7.2066