It is reported that Chinese cold rolled steel coil prices seems to follow the suit of hot rolled coil with the prices increased modestly. The price fluctuations are still dominating the market. And both import and export markets see few activities.
Domestic market prices rebound slightly this week. On Shanghai market, 1.0mm CR sheet by Anshan steel goes at CNY 4170 per tonne, up CNY 90 per tonne from last Friday. That for 1.2mm to 2.0mm CR sheet edge up CNY 90 per tonne to CNY 4070 per tonne. 1.0mm CR coil by Maanshan is being quoted at CNY 4020 per tonne an increase of CNY 40 per tonne.
Taking Shanghai price for 1.0 sheet by Anshan steel as benchmark, it would continue to see fluctuations if the price can't break the resistance of CNY 4400 per tone. There is almost no business on export market owing to the weak overseas demand. While, in the import market South Korea original resources offers at USD 440 per tonne to USD 460 per tonne CFR. But almost no transaction is seen in the market.