During the week ending December 17, prices in the Chinese domestic cold rolled coil (CRC) market have indicated an overall 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, iron ore prices have indicated a downtrend, exerting a negative impact on domestic CRC prices from the cost side. Meanwhile, supplies from northern China have been flowing to the south of the country, affecting the local market in southern China and causing traders there to intensify price competition in order to attract buyers. As demand from downstream users remains sluggish, it is expected that CRC prices in the Chinese domestic market will continue their slight declining trend in the coming week.