It is reported that Chinese cold rolled steel coil price has witness rebound, while export market price continue to go down and there is not much business and sentiment remain weak.

    On Shanghai market, 1.0mm CR sheet by Anshan steel goes at CNY 6350 per tonne, 1.2mm to 2.0mm material at CNY 6230 per tonne up by CNY 100 per tonne to CNY 130 per tonne from early this week 1.0 CR coil by Maanshan steel rebound by CNY 50 per tonne to CNY 6150 per tonne.

    According to MySteel, as expected, local CR sheet & coil prices have reached CNY 6300 per tonne this week. Taking Shanghai price for 1.0 sheet by Anshan steel as benchmark, there would be more room for rebound if it could exceed CNY 6600 per tonne. Otherwise, it is still likely to fall to CNY 6050 per tonne to CNY 6150 per tonne.

    Export price for DC01 1.0mm CRC has dropped to USD 980 per tonne as base a drop of USD 40 per tonne to CNY 50 per tonne from last week. Transaction prices are believed to be about USD 970 per tonne FOB.