In the past week, the Chinese cold rolled coil (CRC) market has trended down slightly. Average CRC prices in China can be viewed in the SteelOrbis price reports section.
In the Chinese CRC market, although in some markets traders have pushed up prices due to improved transaction activity, generally speaking market prices have softened slightly.
At the current time, there appears to be little support for upward movement of prices in the Chinese CRC market. In spite of the reduction of the deposit reserve ratio by the Chinese central bank, this has had little impact on the spot market. Moreover, CRC inventories continue to rise, while demand growth from downstream industries such as automotive and household appliances has slowed down.
Summing up, it is expected the Chinese CRC market will continue to indicate a slightly soft trend in the coming week.