MYSTEEL: High-level inventories to weigh on China's CRC prices

Cold-rolled coil (CRC) prices in China are likely to stay under pressure this month, according to the findings of Mysteel's latest survey. The high run-rates being maintained by mills at a time when demand from end-users remains lacklustre will ensure inventories hovering high, market sources warn.

On September 10, Mysteel assessed the national price of 1mm CRC at Yuan 3,951/tonne ($555/t) including the 13% VAT, slipping by Yuan 21/t from the end of August. Market participants are pessimistic about China's CRC prices after noting the high stock levels at traders' warehouses. Mysteel's weekly survey showed that