Export offers heard at $515-$540/mt FOB China Buying ideas steady at $510/mt FOB China Asian cold-rolled coil prices remained rangebound in the week to Nov. 18 due to a persistent bid-offer gap and steady spot offers.

 Platts assessed SPCC-grade 1 mm CRC at $514/metric ton FOB China on Nov. 18, unchanged week over week. Export offers were heard at $515-$540/mt FOB China, rangebound week over week.

          Some China-based market participants said sentiment was slightly firmer following the modest rebound in Chinese ferrous futures on Nov. 17, while others said sluggish demand continues to weigh on prices.

          Buying ideas remained steady at $510/mt FOB China for the week. A Shanghai-based trader said that the offer-bid spread has narrowed to $5-$15/mt, with deals likely to occur in the coming days.

 “I would expect more buying to come in later this week. But Chinese materials are facing competition from Japan and South Korea,” said a Shanghai-based trader.

 “On an FOB basis, Japanese materials are cheaper, so if they manage to sell in large quantities to certain markets, their CFR basis prices will be lower than Chinese prices,” the trader said.

 An Eastern China-based trader said that there continued to be very few firm bids in the market, hindering transactions from taking place.

 A domestic trader described current activity as “just so-so,” noting that demand has softened due to the year-end seasonal slowdown.

 Platts assessed the same CRC grade at Yuan 3,800/mt ($534/ mt) ex-stock Shanghai on Nov. 18, up Yuan 10/mt week over week, including 13% value-added tax.

 The spread between CRC and SAE1006 HRC export prices held steady at $47/mt week over week.