Ex-China cold rolled coil (CRC) prices have moved sideways in the past week amid the slight changes in local market, though HRC futures prices have been fluctuating.
At present, export offers for CRC from China are in a range of around $555-570/mt FOB, for April shipment, moving sideways on average week on week. Meanwhile, the tradable levels for ex-China CRC have been heard at $540-550/mt FOB, the same as last week.
During the given week, CRC prices in the Chinese domestic market have fluctuated within a limited range amid just slight changes in HRC futures prices. Demand for CRC from downstream users has improved gradually, while the imposition by several countries of antidumping duties on Chinese steel products has negatively affected market sentiments. However, rumors about China likely cutting crude steel output by 50 million mt in 2025 have bolstered market sentiments firmly, resulting in optimism as regards the future trend of the CRC market. It is expected that CRC prices in the Chinese domestic market may edge up in the coming week.
Average domestic 1.0 mm cold rolled coil spot prices in China are at RMB 3,833/mt ($535/mt) ex-warehouse, decreasing by RMB 7/mt ($1/mt) compared to February 19, according to SteelOrbis’ information.
As of February 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,432/mt ($479/mt), increasing by RMB 2/mt ($0.3/mt) since February 19, while up 1.18 percent compared to the previous trading day, February 25.
$1 = RMB 7.1732
