Chinese CRC market slow
2023-03-21 08:25:44 [Print]
BEIJING (Asian Metal) 21 Mar 23 - As raw materials' prices showed signs of softening, buyers began to watch the market and Chinese CRC market ran slowly this week. The mainstream prices of CRC SPCC 1.0mm*1,250mm*C stood at RMB4,850-4,900/t (USD704-711/t) on Monday, both similar to last Friday. Given that the market slowed down, insiders predict CRC prices would decline slightly in coming two days.
A trader in Guangdong reported that his sales amount totaled about 200t on Monday, while the average daily sales volume reached nearly 300t last week. He quoted RMB4,900/t (USD711/t) for CRC SPCC 1.0mm*1,250mm*C on Monday and could accept a concession of no more than RMB20/t (USD3/t). "I finally sold around 20t of the material at RMB4,880/t (USD708/t) this Monday," he said, adding that he last sold about 30t of the material at the same price last Friday. As the market cooled down and buyers watched the market, he is of the opinion that CRC prices would go down by around RMB20/t (USD3/t) in the following day.
The company witnessed a trading volume of about 60,000t in 2022 and around 8,000t in the first two months of this year. It has an inventory of roughly 2,000t at present, up by 200t from one week ago.
"Clients who placed orders in the morning could picked up finished products in the afternoon from the processing plants, so we can say that there were few buying activities in the market," said a trader in Shanghai, adding that clients usually had to pick up materials after two days from the processing plants when the market ran actively. He asked RMB4,850/t (USD704/t) without concessions for CRC SPCC 1.0mm*1,250mm*C on Monday and only sold around 15t at this price. He last sold around 20t of the material at the same price last Friday. As some other traders began to provide discounts to promote sales in the afternoon, he predicts CRC prices would edge down 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 Guangdong reported that his sales amount totaled about 200t on Monday, while the average daily sales volume reached nearly 300t last week. He quoted RMB4,900/t (USD711/t) for CRC SPCC 1.0mm*1,250mm*C on Monday and could accept a concession of no more than RMB20/t (USD3/t). "I finally sold around 20t of the material at RMB4,880/t (USD708/t) this Monday," he said, adding that he last sold about 30t of the material at the same price last Friday. As the market cooled down and buyers watched the market, he is of the opinion that CRC prices would go down by around RMB20/t (USD3/t) in the following day.
The company witnessed a trading volume of about 60,000t in 2022 and around 8,000t in the first two months of this year. It has an inventory of roughly 2,000t at present, up by 200t from one week ago.
"Clients who placed orders in the morning could picked up finished products in the afternoon from the processing plants, so we can say that there were few buying activities in the market," said a trader in Shanghai, adding that clients usually had to pick up materials after two days from the processing plants when the market ran actively. He asked RMB4,850/t (USD704/t) without concessions for CRC SPCC 1.0mm*1,250mm*C on Monday and only sold around 15t at this price. He last sold around 20t of the material at the same price last Friday. As some other traders began to provide discounts to promote sales in the afternoon, he predicts CRC prices would edge down 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.
