During the week ending February 20, cold rolled coil (CRC) prices in the Chinese domestic market have moved on a rising trend. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
More and more traders are back in the CRC market after the Spring Festival holiday, resulting in an increased volume of inquiries and quotations. Upon the return from the holiday, both WISCO and Anshan Steel issued increases for March delivery, with the largest upward adjustments seen for cold rolled products, which will increase costs for future deliveries.
Some traders are unwilling to sell in the short term as they are expecting to see higher prices, while some other traders prefer to sell their products and bring in cash.
Overall, traders have different views of the prospects for the domestic CRC market in the coming period as the demand situation is still unclear. It is expected that the Chinese domestic CRC market will move sideways in the coming week.