Chinese CRC prices up
2023-03-14 08:27:15 [Print]
BEIJING (Asian Metal) 14 Mar 23 - Supported by demand recovery in some regions and firm prices of raw materials, Chinese CRC market prices went up on Monday. The mainstream prices of CRC SPCC 1.0mm*1,250mm*C stood at RMB4,800/t (USD696/t) and RMB4,950/t (USD718/t) D/P respectively in North China and South China on Monday, both up by around RMB20/t (USD3/t) from last Friday. As market warmed up on Monday, insiders predict CRC prices would rise further in coming two days.
A trader in Tianjin stated that he asked RMB4,800/t (USD696/t) without concessions for SPCC 1.0mm*1,250mm*C on Monday morning but failed to close a deal. However, he sold around 20t of the material in the afternoon. "I last sold around 30t of the material at RMB4,770/t (USD692/t) last Friday," he said, adding that his stocks went down from 1,800t to 1,500t last week. When prices of raw materials moved up, he did not worry about the transaction at all. Given falling inventory in local market, he deems that CRC prices would go up further in coming two days.
With a trading amount of about 25,000t in 2022, the company estimated the sales volume would reach about 2,000t in March, up from 1,800t in February.
"We refused any bids below RMB4,950/t (USD718/t) for CRC SPCC 1.0mm*1,250mm*C on Monday and closed a deal of 30t or so at RMB4,950/t (USD718/t) in the morning," revealed a trader in Guangdong, adding that he could not sell higher than RMB4,930/t (USD715/t) last Friday. His sales volume reached about 200t this Monday, up from 150t last Friday. As some other traders tried to lift prices further on Monday afternoon no matter whether buyers could accept, he is of the opinion that CRC prices would move up further by around RMB20/t (USD3/t) in coming two days.
The company recorded a trading amount of nearly 35,000t in 2022 and about 5,000t in the first two months of this year. It estimated the sales volume could reach almost 4,000t in March, up from 3,000t in February.
A trader in Tianjin stated that he asked RMB4,800/t (USD696/t) without concessions for SPCC 1.0mm*1,250mm*C on Monday morning but failed to close a deal. However, he sold around 20t of the material in the afternoon. "I last sold around 30t of the material at RMB4,770/t (USD692/t) last Friday," he said, adding that his stocks went down from 1,800t to 1,500t last week. When prices of raw materials moved up, he did not worry about the transaction at all. Given falling inventory in local market, he deems that CRC prices would go up further in coming two days.
With a trading amount of about 25,000t in 2022, the company estimated the sales volume would reach about 2,000t in March, up from 1,800t in February.
"We refused any bids below RMB4,950/t (USD718/t) for CRC SPCC 1.0mm*1,250mm*C on Monday and closed a deal of 30t or so at RMB4,950/t (USD718/t) in the morning," revealed a trader in Guangdong, adding that he could not sell higher than RMB4,930/t (USD715/t) last Friday. His sales volume reached about 200t this Monday, up from 150t last Friday. As some other traders tried to lift prices further on Monday afternoon no matter whether buyers could accept, he is of the opinion that CRC prices would move up further by around RMB20/t (USD3/t) in coming two days.
The company recorded a trading amount of nearly 35,000t in 2022 and about 5,000t in the first two months of this year. It estimated the sales volume could reach almost 4,000t in March, up from 3,000t in February.
