The domestic CR sheet market in China faces a fall of around Yn100/ton (a level of 12 US dollars /ton). But market participants are taking an optimistic view of the situation while dismissing a slump of the market as unlikely. For the current fall of the market, three factors are held responsible. First, with imported CR sheet prices up to a level of 550 US dollars /ton C&F, traders see an opportune time to sell. Second, local importers have sold CR sheets out of stock so that they can use the proceeds to finance new import deals for CR sheets. Third, they have cleared off CR sheets in stock to meet the central government's tight-money policy.
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