Chinese CRC prices decrease
2023-04-07 07:44:42 [Print]
BEIJING (Asian Metal) 7 Apr 23 - Discouraged by weakening confidence from market participants and falling prices of raw materials, Chinese CRC prices went down this week. The mainstream prices of CRC SPCC 1.0mm*1,250mm*C stood at RMB4,700-4,750/t (USD683-691/t) D/P on Thursday, down by around RMB20/t (USD3/t) from last trading day. Upon the slow market performance, insiders predict CRC prices would fall further in coming two days.
A trader in Shanghai revealed that he quoted RMB4,720/t (USD686/t) for CRC SPCC 1.0mm*1,250mm*C this Thursday but finally sold around 15t of the material at RMB4,700/t (USD683/t) as most traders gave discounts to promote sales. "I refused bids below RMB4,720/t (USD686/t) on Wednesday," he said, adding that his sales volume only stood at around 100tpd this week, down from 150tpd two weeks ago. As clients remained cautious in placing orders seeing prices continued on the decline, he deems that CRC prices would edge down by around RMB20/t (USD3/t) in the following day.
The company saw a total trading volume of about 25,000t in 2022 and recorded a trading amount of nearly 6,000t in Q1 of this year. It estimated the sales amount would total almost 2,500t in April, down from 3,000t in March. It does not hold stock at present, down by 500t from one week ago.
"We sold around 20t of CRC SPCC 1.0mm*1,250mm*C at RMB4,750/t (USD691/t) on Thursday, when our quotation was as high as RMB4,780/t (USD695/t)," said a trader in Foshan, Guangdong, adding that he refused clients' bids below RMB4,780/t (USD695/t) on Tuesday. According to him, after the price declined by around RMB200/t (USD29/t) totally since the middle of March, most traders lost confidence in the market in April and kept reducing stocks. He has an inventory of nearly 1,000t at present, down by 500t from one week ago. He is of the opinion that CRC prices would decline by around RMB20/t (USD3/t) in coming two days.
Reporting a trading volume of nearly 9,000t and 35,000t respectively in Q1 of this year and last year, the company estimated the sales amount would reach about 3,000t in April, down from 4,000t in March.
A trader in Shanghai revealed that he quoted RMB4,720/t (USD686/t) for CRC SPCC 1.0mm*1,250mm*C this Thursday but finally sold around 15t of the material at RMB4,700/t (USD683/t) as most traders gave discounts to promote sales. "I refused bids below RMB4,720/t (USD686/t) on Wednesday," he said, adding that his sales volume only stood at around 100tpd this week, down from 150tpd two weeks ago. As clients remained cautious in placing orders seeing prices continued on the decline, he deems that CRC prices would edge down by around RMB20/t (USD3/t) in the following day.
The company saw a total trading volume of about 25,000t in 2022 and recorded a trading amount of nearly 6,000t in Q1 of this year. It estimated the sales amount would total almost 2,500t in April, down from 3,000t in March. It does not hold stock at present, down by 500t from one week ago.
"We sold around 20t of CRC SPCC 1.0mm*1,250mm*C at RMB4,750/t (USD691/t) on Thursday, when our quotation was as high as RMB4,780/t (USD695/t)," said a trader in Foshan, Guangdong, adding that he refused clients' bids below RMB4,780/t (USD695/t) on Tuesday. According to him, after the price declined by around RMB200/t (USD29/t) totally since the middle of March, most traders lost confidence in the market in April and kept reducing stocks. He has an inventory of nearly 1,000t at present, down by 500t from one week ago. He is of the opinion that CRC prices would decline by around RMB20/t (USD3/t) in coming two days.
Reporting a trading volume of nearly 9,000t and 35,000t respectively in Q1 of this year and last year, the company estimated the sales amount would reach about 3,000t in April, down from 4,000t in March.
