China's CRC prices losing upward momentum on slowing demand

Export prices for Chinese cold-rolled coil mellowed in the past week on slowing demand in both the domestic China and overseas markets, while those for hot-dipped galvanized coil continued to increase.

Cold-rolled coil
Fastmarkets’ weekly price assessment for steel cold-rolled coil, export, fob China main port was $660-665 per tonne on Tuesday December 1, narrowing by $5-10 per tonne from $650-670 per tonne cfr a week earlier.
Chinese mills offered January-shipment cargoes at $690 per tonne fob China during the week. These are $5-20 per tonne higher week on week.
"Spot market demand shrank considerably this week after a spurt of buying activity by South American buyers in the past few weeks,” a trader in eastern China Fastmarkets on Tuesday December 1.

Fastmarkets’ weekly price assessment for steel CRC, domestic, delivered...

Published

Paul Lim

Miranda Song

December 02, 2020

08:04 GMT

Singapore