Ex-China cold rolled coil (CRC) prices have edged up slightly over the past week even though local CRC prices and HRC futures prices have failed to recover this week.
More specifically, ex-China CRC offer prices from mills are at $545-565/mt FOB this week, up $5/mt on the higher end of the range week on week, while the tradable levels for ex-China CRC have been heard at $545-560/mt FOB, increasing by $5/mt week on week.
During the given week, CRC prices in the Chinese domestic market have fluctuated within a limited range amid slightly increased production and decreasing inventories. HRC futures prices have only indicated slight rises, now exerting a weaker impact on the CRC market. Cautious sentiments have started to prevail among market players as demand for CRC from downstream users has not improved significantly. Buyers mostly purchase in line with needs.
Average domestic 1.0 mm cold rolled coil spot prices in China are at RMB 3,573/mt ($518/mt) ex-warehouse, decreasing by RMB 4/mt ($0.6/mt) week on week, according to SteelOrbis’ information.
As of March 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,313/mt ($480/mt), increasing by RMB 3/mt ($0.4/mt) or 0.09 percent since March 18, while down 0.24 percent compared to the previous trading day, March 24.
$1 = RMB 6.8911
