China’s CRC export prices inch down amid limited demand
China's cold-rolled coil export prices continued to fall Tuesday, on lower tradable levels seen from mills amid a falling domestic market and slow buying activity from overseas buyers.
S&P Global Platts assessed SPCC grade 1 mm thick CRC at $438/mt FOB China Tuesday, down $5/mt from the previous week. The spread between the export price of CRC and commercial-grade HRC was at $41/mt, narrowing $4/mt on the week.
Chinese mills held offers stable on the week along with HRC this week for June shipment.
On Tuesday, a Northeast China-based major export mill offered CRC at $470/mt FOB and cut sheet at $475/mt FOB, while an eastern China-based mill offered at $465/mt, both for June shipments, according to mill sources and traders.
But the tradable level moved slightly lower as there was some restocking activity from South Korea, and the mills' tradable levels were at around $440/mt, depending on quantity, as they tried to conclude deals.
-- Analyst Yuelin Dai