Posted on 13 Jun 2008
Chinese CRC price keeps firm
It is reported that cold rolled steel coil prices are still
moving up in China
and export offers keep firm.
On Shanghai market price for
1.0 cold rolled sheet by Anshan
steel is being offered at CNY 7450 per tonne to CNY 7480 per tonne, while that
for 1.0mm CR coil by Maanshan steel is at CNY 7330 per tonne up by CNY 100 per
tonne and CNY 80 per tonne respectively.
Mysteel forecasts, Shanghai
price for 1.0 sheet by Anshan
steel has reached the target of CNY 7400 per tonne to CNY 7500 per tonne and
the next one probably will be CNY 7700 per tonne to CNY 7800 per tonne if it
could go past CNY 7500 per tonne. Otherwise, we do not exclude the possibility
of downward correction.
Export offer for 1.0mm CRC is prevailing at USD 1120 per
tonne to USD 1130 per tonne FOB and some are tagging at higher level.
Mysteel said transaction for CRC exports are described to be
satisfactory by traders and most go to Europe and South
America.
