During the week ending July 2, the Chinese domestic cold rolled coil (CRC) market has continued to indicate a slight downward movement, while transaction activity has been at poor levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, some traders have been more willing to negotiate on their offer prices in order to achieve an increase in transaction activity against the backdrop of a poor demand situation. Recently, the Chinese government has issued several stimulus policies, exerting a positive impact on the financial and futures markets, though with a limited influence so far on the local CRC spot market. It is expected that CRC prices in the Chinese domestic market will move at low levels, and will likely see further declines due to tight liquidity and the lack of an improvement in demand.