Asian cold-rolled coil prices slipped in the week to Nov. 11 amid sluggish demand in the seaborne market.

Platts assessed SPCC-grade 1 mm CRC at $514/mt FOB China on Nov. 11, down $2/mt week over week.

Export offers remained largely stable at $520-$540/mt FOB China, though a northern China mill reportedly cut its offers by up to $10/mt to stimulate buying interest.

A mill source said the move was driven by persistently weak demand for CRC.

Ex-China coils were offered to South America at $560-$565/mt CFR during the week, which would work out to $520-525/mt FOB, market participants said.

Buying ideas in the region hovered around $550/mt CFR, or $510/mt FOB. This was a $5/mt drop week over week.

A Japan-based trader said Chinese offers continued to soften as buyers retreated to the sidelines amid the year-end seasonal slowdown.

Japanese mills were similarly competitive, offering at $520/mt FOB, or about $585-$590/mt CFR South America, he added.

“Customers are not in a rush to buy, so price discussions are also few this week,” the trader said.

Platts assessed the same CRC grade at Yuan 3,790/mt ($532/mt) ex-stock Shanghai on Nov. 11, down Yuan 30/mt week over week, including 13% value-added tax.

The spread between CRC and SAE1006 HRC export prices narrowed to $47/mt, down $2/mt week over week, as CRC prices fell slightly.