Chinese CRC market sees slight upward movement

Wednesday, 14 March 2012 17:26:09 (GMT+3)   |  
       

In the past week, the Chinese cold rolled coil (CRC) market has moved from stability to a slight uptrend. Average CRC prices in the main markets in China can be viewed in the SteelOrbis price reports section.  
 
Transaction activity has been on the low side in the Chinese CRC market. Recent price increase announcements by steel mills have provided some encouragement for the market. Currently, most traders are optimistic for the market outlook. Supported by high costs, market prices appear to have little room for decrease. However, CRC inventory in China has increased slightly and this may have some influence on market prices.
 
If domestic demand rebounds, it is expected that the Chinese CRC market will increase steadily, also with the support of high costs.

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