During the week ending September 3, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a very slight downtrend, 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, against the backdrop of declines in HRC prices, domestic CRC prices have also been affected. In addition, downstream demand for CRC has been sluggish. Meanwhile, since profit margins for common carbon CRC products have narrowed, some steelmakers have cut their outputs of these products, resulting in a shortage of supply in some regions, which has provided a certain degree of support for local CRC prices. However, demand for CRC is unlikely to see a significant change in the short run. It is expected that CRC prices in the Chinese domestic market will continue to move on a downtrend in the coming week.