During the week ending July 30, the Chinese domestic cold rolled coil (CRC) market has continued its stable trend, while transaction activity has remained at poor levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, a wait-and-see stance prevails in local Chinese CRC market, resulting in a steady trend of CRC prices. After previous declines in CRC prices, traders have been unwilling to hold a bearish attitude towards future business. Meanwhile, steelmakers also try to keep their ex-works prices stable. However, since CRC consumption has been low due to ongoing offseason amid hot summer and high temperature; it could hardly provide a support to push up CRC prices. It is expected that CRC prices in the Chinese domestic market will still indicate a stable trend, likely to see a slight fluctuation if any.