During the week ending May 15, the Chinese domestic cold rolled coil (CRC) market has continued to move down against the background of low trading volumes. Despite limited market inventories, the price trend has failed to recover given the sluggishness of the overall market. Average HRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Traders are still pessimistic as regards the prospects for the market in the coming period and believe that market prices will decline further. Meanwhile, mills do not plan to cut production, and so the imbalance between supply and demand continues. It is expected that CRC prices in the Chinese domestic market will continue to drop down in the coming week.