It is reported that Chinese local CRC price have seen rebound this week and they are believed to be close to or even have touched the bottom.
On Shanghai market, 1.0mm CR sheet by Anshan steel goes at CNY 4100 per tonne up from CNY 100 per tonne from last Friday; 1.2mm to 2.0mm material at CNY 4000 per tonne an increase of CNY 150 per tonne. While that for 1.0 CR coil by Maanshan steel jumped up by CNY 200 per tonne to CNY 3850 per tonne.
Export offer for DC01 1.0mm CRC goes at about USD 550 per tonne FOB to USD 560 per tonne FOB which compares with USD 600 per tonne to USD 620 per tonne FOB early this month. Despite a substantial price decrease in the past weeks, overseas importers remain requesting even lower level.