Metal Bulletin’s assessment of prices for May shipments of SPCC 1.0mm CRC was $605-610 per tonne fob for the week ended Tuesday March 27, down $25 per tonne from a week earlier
Market participants said there were very few deals concluded during the week because China’s offer prices remained too high for overseas buyers.
Liaoning-based Benxi Iron & Steel on Tuesday morning lowered its export offer by $25 per tonne to $620 per tonne fob for this week. Traders reckon the mill might concede a discount of about $10 per tonne.
The fall in CRC prices follows the downtrend in China’s HRC market over the...