During the week ended July 18, cold rolled coil (CRC) prices in Chinese domestic market have continued to decline. Average CRC prices in China can be viewed in the SteeOrbis price reports section.
In order to attract the interest of buyers, some traders have continued to reduce their prices for actual transactions. At the same time, demand for CRC products in China is currently weak.
During the past week, major Chinese steel mills have announced new prices. In particular, WISCO has decided to reduce its CRC price by RMB 100/mt ($15/mt), while Anshan Steel has cut its prices for CRC products by RMB 50/mt ($7/mt). Shougang has decreased its CRC prices by RMB 130/mt ($20/mt).
It is expected that the Chinese CRC market will continue its soft trend in the coming week.