Ex-China cold rolled coil (CRC) prices have edged up over the past week amid increasing local CRC prices and rising HRC futures prices.
More specifically, ex-China CRC offer prices from mills are at $545-560/mt FOB this week, increasing by 5/mt week on week, while the tradable levels for ex-China CRC have been heard at $540-555/mt FOB, versus $535-540/mt FOB last week.
During the given week, CRC prices in the Chinese domestic market have seen slight rises amid improved transaction activities, though relatively low-priced CRC has been traded more easily. Demand for CRC has improved slowly, while the imbalance between supply and demand still exists, exerting a negative impact on prices. Cautious sentiments prevail among market players as actual orders for CRC are not yet sufficient.
Average domestic 1.0 mm cold rolled coil spot prices in China are at RMB 3,523/mt ($511/mt) ex-warehouse, rising by RMB 23/mt ($3.3/mt) week on week, according to SteelOrbis’ information.
As of March 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,269/mt ($467/mt), increasing by RMB 57/mt ($8.3/mt) or 1.8 percent since March 4, while up 0.28 percent compared to the previous trading day, March 10.
$1 = RMB 6.8917
