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Chinese CR domestic prices see moderate increase

Chinese cold rolled steel coil prices follows the suit of HRC, moderately increase CNY50 per tonne form that of last week. Market traders have gained confidence about the market because of improved demand in auto and white goods sectors, which were boosted by government''s stimulus package.

On Shanghai market, 1.0mm CR sheet by Anshan steel goes at CNY 4200 per tonne to CNY 4230 per tonne up by CNY 30 per tonne from last Friday. That for 1.2mm to 2.0mm CR sheet edge up CNY 50 per tonne to CNY 80 per tonne to CNY 4150 per tonne to CNY 4180 per tonne. 1.0mm CR coil by Ma Anshan Steel is being quoted at CNY 4100 per tonne to CNY 4120 per tonne.
Taking Shanghai price for 1.0 sheet by Anshan steel as benchmark, the price would continue to see fluctuations and wouldn''t see evident increase if it can''t break the resistance of CNY 4500 per tone.
As for export and import, not transition is heard in the market.

May 12, 2009 09:55
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