During the week ending August 20, prices in the Chinese domestic cold rolled coil (CRC) market have been almost stable, just indicating a very slight softening, while transaction activity has remained slack. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, the rainy weather in China has negatively impacted CRC transaction activity. Currently, bearish sentiment prevails in the Chinese CRC market. Since supply volumes are anticipated to remain at high levels and as demand growth is expected to be slow, domestic CRC prices are unlikely to see a recovery in a short term. It is expected that CRC prices in the Chinese domestic market will move on a slight downtrend in the coming week.