During the week ending November 12, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a slight downtrend, while transaction activity has remained at low levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, although some steelmakers have cut their production, demand for CRC has been slack due to colder weather in China, resulting in a slightly soft trend for CRC prices. Since the Asia-Pacific Economic Cooperation (APEC) meeting in Beijing has affected CRC producers in northern China, shortages of supplies have been seen in Tianjin, Beijing and in Hebei Province and so prices in these areas will likely see slight rebounds in the coming period. However, other regions in China are not expected to see any improvement in prices. It is expected that CRC prices in the Chinese domestic market will fluctuate within a narrow range in the week ahead.