During the week ending April 1, prices in the Chinese domestic cold rolled coil (
CRC) market have generally indicated a downward trend, while transaction activity in the market has remained slack.
Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week,
CRC prices have mostly indicated a downtrend, though prices in Tianjin and Shanghai remained stable as prices there were already at comparatively low levels. Currently, most steelmakers have cut their ex-works prices for
CRC, exerting negative pressure on
CRC prices in the spot market. Meanwhile, the rebound of semi-finished steel prices has slowed down, with some prices even indicating declines again, weakening the expectations of
CRC traders and producers that rising semi-finished steel prices would provide some support for
CRC prices. It is expected that
CRC prices in the Chinese domestic market will continue their downtrend in the coming week as iron ore prices have moved down further.