During the week ending October 29, prices in the Chinese domestic cold rolled coil (CRC) market have continued their slight downtrend, while transaction activity has remained at low levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, traders have lowered their sales prices in order to attract business amid tighter liquidity towards the end of the month. Traders state that demand from downstream industries has been slack, with transaction activity worse than in September. As for the market in the coming period, with the weather becoming colder in winter, demand is expected to become even more sluggish, exerting pressure on CRC prices. It is thought that CRC prices in the Chinese domestic market will likely move down further in the week ahead.