Chinese CRC export market remains quiet - 20 Aug, 2008
It is reported that Chinese CRC price continue to slump on both domestic and export market. The dive of price and the rumor of cancellation of export tax rebate are hindering business.
The fall of local market prices has been going on. On Shanghai market, 1.0mm CR sheet by Anshan steel goes at CNY 6450 per tonne, 1.2mm to 2.0mm material at CNY 6350 per tonne a drop of CNY 250 per tonne from last Wednesday. 1.0 CR coil by Maanshan steel drop by another CNY 230 per tonne to CNY 6320 per tonne.
Export price for DC01 1.0mm CRC has dropped to USD 1030 per tonne to USD 1040 per tonne FOB as base a drop of USD 430 per tonne from USD 1060 per tonne to USD 1070 per tonne in last week. There is no buying activity in overseas countries and most importers would not return to market until prices drop to a reasonable level.
