In the given period, CRC market prices have continued to decline amid lackluster market activity which is partly due to the low production capacity utilization rates of some downstream enterprises. The daily transaction volume of most traders is as low as 300-500 mt.
In the short term, upward support for the domestic CRC market is still very weak. On the one hand, no positive factors have been observed on the macroeconomic side. Consecutive interest rate cuts by the Chinese central bank have not improved the mood in the market. On the other hand, with significant arrivals of new supplies in July, the market is under pressure from high inventories.
It is expected that China's CRC market will continue to slide down in the coming week.