Chinese CRC prices decline
2023-04-25 08:28:32 [Print]
BEIJING (Asian Metal) 25 Apr 23 - Due to slow market performance and rising bearish sentiment from participants, Chinese CRC prices decreased this Monday. The mainstream prices of CRC SPCC 1.0mm*1,250mm*C stood at RMB4,380/t (USD636/t) and RMB4,520/t (USD656/t) D/P in North China and South China respectively on Monday, down by around RMB50/t (USD7/t) from last Sunday. Due to the bad market performance, insiders predict CRC prices would go down further in coming two days.
A trader in Tianjin reported that he asked RMB4,400/t (USD638/t) for CRC SPCC 1.0mm*1,250mm*C this Monday but had to accept a concession of RMB20/t (USD3/t) finally to close one order. "I last sold about 15t of the material at RMB4,450/t (USD646/t) last Sunday," he revealed, adding that only clients with urgent need placed orders as prices totally declined by about RMB200/t (USD29/t) in recent one week. His daily sales volume reached about 100t this week, down from 150t one week ago. Upon negative mentality from participants and slow market performance, he deems CRC prices would fall further in coming two days.
The company recorded a trading amount of 25,000t or so in 2022 and 4,000t in the Q1 of this year. It estimated the sales amount would reach about 2,000t in April, down from 3,000t in March. It has an inventory of roughly 800t at present.
"We sold around 20t of CRC SPCC 1.0mm*1,250mm*C at RMB4,520/t (USD656/t) on Monday, while could sell around 15t of the material at RMB4,560/t (USD661/t) last Sunday," revealed a trader in Foshan, Guangdong, adding that most clients kept watching the market and waited for lower offers. He only sold around 80t of CRC on Monday, while the average level in March reached nearly 200tpd. Upon the weakened confidence from traders, he is of the opinion that CRC prices would edge down further in coming two days but the decline would narrow gradually as prices already went down a lot in recent one week.
Reporting a trading volume of almost 35,000t in 2022, the company sold about 9,000t of CRC in the Q1 of this year. Its sales volume would reach no more than 3,000t in April, down from 4,000t in March. Currently it has an inventory of 1,000t or so.
A trader in Tianjin reported that he asked RMB4,400/t (USD638/t) for CRC SPCC 1.0mm*1,250mm*C this Monday but had to accept a concession of RMB20/t (USD3/t) finally to close one order. "I last sold about 15t of the material at RMB4,450/t (USD646/t) last Sunday," he revealed, adding that only clients with urgent need placed orders as prices totally declined by about RMB200/t (USD29/t) in recent one week. His daily sales volume reached about 100t this week, down from 150t one week ago. Upon negative mentality from participants and slow market performance, he deems CRC prices would fall further in coming two days.
The company recorded a trading amount of 25,000t or so in 2022 and 4,000t in the Q1 of this year. It estimated the sales amount would reach about 2,000t in April, down from 3,000t in March. It has an inventory of roughly 800t at present.
"We sold around 20t of CRC SPCC 1.0mm*1,250mm*C at RMB4,520/t (USD656/t) on Monday, while could sell around 15t of the material at RMB4,560/t (USD661/t) last Sunday," revealed a trader in Foshan, Guangdong, adding that most clients kept watching the market and waited for lower offers. He only sold around 80t of CRC on Monday, while the average level in March reached nearly 200tpd. Upon the weakened confidence from traders, he is of the opinion that CRC prices would edge down further in coming two days but the decline would narrow gradually as prices already went down a lot in recent one week.
Reporting a trading volume of almost 35,000t in 2022, the company sold about 9,000t of CRC in the Q1 of this year. Its sales volume would reach no more than 3,000t in April, down from 4,000t in March. Currently it has an inventory of 1,000t or so.
