Asian cold-rolled coil prices rose in the week to Jan. 31 amid high raw material costs which lead to firmer offers while buying interest remained weak.

          Platts assessed SPCC grade 1 mm thick cold-rolled coil at $700/mt FOB China, up $17/mt on the week. The same grade was assessed at $715/mt CFR East Asia, up $40/mt on the month.

          An eastern China trader said that buyers would not accept the Chinese mills’ offer levels in the market today as the HRC futures dropped quite sharply. Likewise Chinese domestic CRC spot prices also decreased.

          “Customers are quite hesitant, they did not buy,” an eastern China trader said.

          Another trader said that they have not received orders from buyers yet as buyers have not fully returned from the holidays.

          Platts assessed the same CRC grade at Yuan 4,630/mt ex-stock, including VAT, in the Shanghai dealers' market, up Yuan 50/mt on the week.