It is reported that export price for Chinese cold rolled coil remained stable last week but domestic market prices were still in downward correction.

On Shanghai market, 1.0mm CR sheet by Anshan steel was being quoted at CNY 7330 per tonne, 1.2mm to 2.0mm material at CNY 7250 per tonne to CNY 7280 per tonne down by CNY 20 per tonne from early last week. 1.0 CR coil by Maanshan steel was at CNY 7150 per tonne down by CNY 20 per tonne from previous week.

Export price for 1.0mm CRC was still at around USD 1150 per tonne to USD 1160 per tonne FOB and most transactions were concluded at USD 1125 per tonne to USD 1145 per tonne on FOB basis.

As per market reports, most steel makers are fully booked for exports for end July or August shipment due to high margin in exports as compared to domestic sales. Jinan Steel's 90% of CR output has been booked for overseas market and it only set aside 5000 tonnes for domestic users. Benxi steel is reported to have concluded orders for 15,000 tonnes of CRC and 120,000 tonnes of HRC for exports.