Ex-China cold rolled coil (CRC) prices have moved sideways amid increasing HRC futures prices and local CRC prices.
At present, export offers for CRC from China are in a range of around $535-540/mt FOB, for April shipment, moving sideways on average week on week. Meanwhile, the tradable levels for ex-China CRC have been heard at $530/mt FOB, the same as last week.
During the given week, CRC prices in the Chinese domestic market have edged up amid rising HRC futures prices and declining inventory levels. CRC producers’ capacity utilization rates and outputs have increased compared to the previous week, while demand from downstream users has improved at the same time.
However, market players mostly hold cautious sentiments as regards the future prospects for the CRC market. It is thought that CRC prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average domestic 1.0 mm cold rolled coil spot prices in China are at RMB 3,757/mt ($524/mt) ex-warehouse, increasing by RMB 24/mt ($3.3/mt) compared to March 19, according to SteelOrbis’ information.
As of March 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,386/mt ($472/mt), increasing by RMB 38/mt ($5.3/mt) or 1.1 percent since March 19, while up 0.12 percent compared to the previous trading day, March 25.
$1 = RMB 7.1754