Asian cold-rolled coil prices slipped in the week to April 7, with export activity curbed by subdued demand and high freight costs.

Platts assessed SPCC-grade 1 mm CRC at $548/metric ton FOB China April 7, down $2/mt week over week.

Export offers were heard at $550-$570/mt FOB China, steady on the week, with tradable levels at $550/mt FOB.

A northern China mill source said its offers remained elevated due to firm steelmaking costs, leading to minimal inquiries. The source added that the mill’s key export destinations are the Middle East and Europe.

A China-based trader added that inquiries primarily came from South America, but no confirmed transactions were concluded in recent days.

“High freight costs continued to act as a key constraint on trading activity, particularly for long-haul destinations, reducing buyers’ willingness to commit to new cargoes,” said the trader.

Other market participants said spot activity had been muted over the past week, but domestic demand had lent some support.

A second China-based trader said demand, particularly from the automotive and home appliance sectors, remained steady.

Platts assessed the same CRC grade at Yuan 3,690/mt ($538/mt) ex-stock Shanghai April 7, down Yuan 10/mt on the week, including 13% value added tax.

The spread between CRC and SAE1006 HRC export prices narrowed by $3/mt week over week at $48/mt, following a modest decrease in CRC prices.