Chinese CRC price continues to go down
2015-04-10 09:06:33 [Print]
BEIJING (Asian Metal) 10 Apr 15 - The price of CRC in Chinese leading markets keeps declining at this moment. Participants show some pessimism for the outlook of the market. Insiders predict that the market will hardly see improvement in the short term.
A CRC distributor in Shanghai says the price of ST12 1.0mm*1,250mm*C from Ansteel is RMB3,150/t (USD508/t) VAT included, down by RMB20/t (USD3/t) compared with that of last trading day.
According to the source, the price of HRC has decreased by RMB60/t (USD8/t) this week. Influenced by this, most CRC traders cut their offers to attract more orders. “The market is very quiet and customers are reluctant to place orders seeing the price is on the downward trend,” he says, adding that his sales volume is only 30tpd at the moment, while it was around 50tpd in the end of 2014.
Another source in Foshan, Guangdong Province, says the price of SPCC 1.0mm*1,250mm*C from Shougang Steel is RMB3,380/t (USD545/t) VAT included, down by RMB20/t (USD3/t) compared with that of last trading day.
Noted by him, the price of CRC in local market has dropped by RMB100-120/t (USD16-19/t) since April 1st. “Even though traders cut prices every day, downstream customers are not active in placing orders,” he says, adding that most traders can offer a discount of RMB10-20/t (USD2-3/t) to customers who have firm orders.
A source in Tianjin says that the offer for DC01 1.0mm*1,250mm*C from Tangshan Steel is RMB3,080/t (USD497/t) VAT included, falling by RMB10/t (USD2/t) compared with that of last trading day.
As he explains, the price of steel billet Q235 150*150mm in Tangshan, Hebei Province went down by RMB30/t (USD5/t) to RMB1,970/t (USD318/t) on Wednesday, further heightening participants’ pessimism for the outlook of coming market. The source reveals his inventory is limited to 900-1,000t at the moment, less than the regular level of 2,500t.
A CRC distributor in Shanghai says the price of ST12 1.0mm*1,250mm*C from Ansteel is RMB3,150/t (USD508/t) VAT included, down by RMB20/t (USD3/t) compared with that of last trading day.
According to the source, the price of HRC has decreased by RMB60/t (USD8/t) this week. Influenced by this, most CRC traders cut their offers to attract more orders. “The market is very quiet and customers are reluctant to place orders seeing the price is on the downward trend,” he says, adding that his sales volume is only 30tpd at the moment, while it was around 50tpd in the end of 2014.
Another source in Foshan, Guangdong Province, says the price of SPCC 1.0mm*1,250mm*C from Shougang Steel is RMB3,380/t (USD545/t) VAT included, down by RMB20/t (USD3/t) compared with that of last trading day.
Noted by him, the price of CRC in local market has dropped by RMB100-120/t (USD16-19/t) since April 1st. “Even though traders cut prices every day, downstream customers are not active in placing orders,” he says, adding that most traders can offer a discount of RMB10-20/t (USD2-3/t) to customers who have firm orders.
A source in Tianjin says that the offer for DC01 1.0mm*1,250mm*C from Tangshan Steel is RMB3,080/t (USD497/t) VAT included, falling by RMB10/t (USD2/t) compared with that of last trading day.
As he explains, the price of steel billet Q235 150*150mm in Tangshan, Hebei Province went down by RMB30/t (USD5/t) to RMB1,970/t (USD318/t) on Wednesday, further heightening participants’ pessimism for the outlook of coming market. The source reveals his inventory is limited to 900-1,000t at the moment, less than the regular level of 2,500t.
