Ex-China cold rolled coil (CRC) prices have moved down week on week mainly amid weak sentiments among most sellers and main buyers overseas, even though local prices for CRC have remained stable.
At present, export offers for CRC from China are in the range of around $520-525/mt FOB, for July shipment, down $12.5/mt on average week on week. Meanwhile, the tradable levels for ex-China CRC have been heard at $515-520/mt FOB versus $525/mt FOB recorded last week.
During the given week, CRC prices in the Chinese domestic market have remained stable amid the slight changes in HRC futures prices. High temperature and widespread rainy weather exerted a negative impact on CRC demand. Cautious sentiments prevailed among market players. It is thought that CRC prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
Average domestic 1.0 mm cold rolled coil spot prices in China are at RMB 3,380/mt ($469/mt) ex-warehouse, remaining stable compared to June 11, according to SteelOrbis’ information.
As of June 18, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,102/mt ($432/mt), decreasing by RMB 6/mt ($0.8/mt) or 0.2 percent since June 11, while up 0.32 percent compared to the previous trading day, June 17.
$1 = RMB 7.1761
