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China CRC export price remain quiet

It is reported that Chinese cold rolled steel coil prices remains quiet this week comparing to that of HRC, with an increase of only CNY 30 per tonne. The price is becoming more stable than that of last week. And both import and export markets see few activities.

On Shanghai market, 1.0mm CR sheet by Anshan steel goes at CNY 4200 per tonne up CNY 30 per tonne from last Friday. That for 1.2mm to 2.0mm CR sheet edge up CNY 30 per tonne to CNY 4100 per tonne. 1.0mm CR coil by Handan Steel is being quoted at CNY 4030 per tonne to CNY 4050 per tonne.

Taking Shanghai price for 1.0 sheet by Anshan steel as benchmark, the price fluctuation will become more moderate and wouldn't see evident increase if it can't break the resistance of CNY 4500 per tone.

As for export, some resources are heard exporting to South Korea with the price of USD 470 per tonne. While, in import market, May delivery CIS-origin CRC sees a decrease of USD 10 per tonne to USD 30 per tonne this week, however, no deal is heard in the market by the moment.

May 5, 2009 11:13
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