During the week ending February 19, the Chinese domestic cold rolled coil (CRC) market has moved on a soft trend. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Transaction activity in the local Chinese CRC market has remained poor. Oversupply continues to be an issue due to the high capacity utilization rates of domestic mills. Inventory has increased rapidly after the Chinese New Year holiday and is now at a record-high level for the time of the year. Many traders have reduced their CRC prices in order to attract business and bring in funds. It is thought that Chinese domestic CRC prices may continue their downtrend in the coming week.