Ex-China cold rolled coil (CRC) prices have edged down over the past week.
At present, export offers for CRC from China are in a range of around $510-515/mt FOB, for July shipment, decreasing by $10/mt on average week on week. Meanwhile, the tradable levels for ex-China CRC have been heard at $505-510/mt FOB, versus the range of $515-520/mt FOB recorded last week.
During the given week, CRC prices in the Chinese domestic market have edged down slightly amid quiet transaction activities and the relatively high supplies to the market. Demand for CRC has remained sluggish, resulting in the increased contrast between supply and demand. Bearish sentiments have prevailed among market players, weakening the support for 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 3,367/mt ($470/mt) ex-warehouse, decreasing by RMB 13/mt ($1.8/mt) compared to June 18, according to SteelOrbis’ information.
As of June 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,098/mt ($430/mt), increasing by RMB 5/mt ($0.7/mt) or 0.16 percent since June 18, while decreasing by 0.26 percent compared to the previous trading day, June 24.
$1 = RMB 7.1668
