Chinese CRC prices edge down
2024-03-06 08:29:09 [Print]
BEIJING (Asian Metal) 6 Mar 24 - The domestic CRC prices continue the downward trend in major domestic markets this week dragged by the slow market as well as the decreasing prices of raw materials. Presently, the mainstream prices of CRC SPCC 1.0mm*1,250mm*C stand at RMB4,450-4,500/t (USD618-625/t) and RMB4,530-4,580/t (USD629-636/t) D/P in warehouses Tianjin and Shanghai respectively, down by RMB40/t (USD6/t) and RMB20/t (USD2.8/t) from Monday. Insiders believe prices of CRC would keep going down in the following days given the inactive market.
"We cut prices of CRC SPCC 1.0mm*1,250mm*C to RMB4,550/t (USD632/t) on Monday from RMB4,630/t (USD643/t) of late last week. Though we still offered RMB4,550/t (USD632/t) on Tuesday, we could accept the concession of RMB20/t (USD3/t) for firm orders," disclosed a trader in Shanghai. Attributing the continuous price declines to the slow market, the trader revealed that thought above 80% of downstream customers resumed production, they kept inactive in purchasing discouraged by the downward price trend of raw materials as well as insufficient orders. "A regular client just purchased 30t of CRC at RMB4,530/t (USD629/t) on Tuesday, while he at least purchased 80t in December," stated the trader. He shows little confidence in the market prospect given the soft demand, and deems prices of CRC would decrease further in the forthcoming several days.
With the typical monthly sales volume of 2,000t, the trader would sell about 1,000t of CRC in March, against 500t in February. He recorded the sales volume of more or less 21,000t in 2023, holding around 1,000t in inventory.
A trader in Tianjin confirms the decreasing price trend of CRC, quoting RMB4,470/t (USD621/t) with the concession of RMB10-20/t (USD1.4-2.8/t) for CRC SPCC 1.0mm*1,250mm*C at present, while last sold 100t of the material at RMB4,510/t (USD627/t) on Monday. According to him, end users hold back from purchasing upon the decreasing prices of raw materials. Besides, orders for final products remain insufficient. "End users restarted production in succession since early last week, but they kept inactive in production dragged by shrinking orders for final products. After tough negotiations, we just sold 50t of CRC at RMB4,450/t (USD618/t) on Tuesday," added the trader. Upon the poor sales performance, the trader predicts a further price decline of CRC in the forthcoming several days.
Presently, the trader holds around 12,000t of stocks, doubling those in January. Based on the regular sales volume of 2,000tpm, he estimates that the sales volume would achieve about 3,000t in March, against 500t in February. He totally sold 21,000t or so of CRC in 2023.
"We cut prices of CRC SPCC 1.0mm*1,250mm*C to RMB4,550/t (USD632/t) on Monday from RMB4,630/t (USD643/t) of late last week. Though we still offered RMB4,550/t (USD632/t) on Tuesday, we could accept the concession of RMB20/t (USD3/t) for firm orders," disclosed a trader in Shanghai. Attributing the continuous price declines to the slow market, the trader revealed that thought above 80% of downstream customers resumed production, they kept inactive in purchasing discouraged by the downward price trend of raw materials as well as insufficient orders. "A regular client just purchased 30t of CRC at RMB4,530/t (USD629/t) on Tuesday, while he at least purchased 80t in December," stated the trader. He shows little confidence in the market prospect given the soft demand, and deems prices of CRC would decrease further in the forthcoming several days.
With the typical monthly sales volume of 2,000t, the trader would sell about 1,000t of CRC in March, against 500t in February. He recorded the sales volume of more or less 21,000t in 2023, holding around 1,000t in inventory.
A trader in Tianjin confirms the decreasing price trend of CRC, quoting RMB4,470/t (USD621/t) with the concession of RMB10-20/t (USD1.4-2.8/t) for CRC SPCC 1.0mm*1,250mm*C at present, while last sold 100t of the material at RMB4,510/t (USD627/t) on Monday. According to him, end users hold back from purchasing upon the decreasing prices of raw materials. Besides, orders for final products remain insufficient. "End users restarted production in succession since early last week, but they kept inactive in production dragged by shrinking orders for final products. After tough negotiations, we just sold 50t of CRC at RMB4,450/t (USD618/t) on Tuesday," added the trader. Upon the poor sales performance, the trader predicts a further price decline of CRC in the forthcoming several days.
Presently, the trader holds around 12,000t of stocks, doubling those in January. Based on the regular sales volume of 2,000tpm, he estimates that the sales volume would achieve about 3,000t in March, against 500t in February. He totally sold 21,000t or so of CRC in 2023.
