During the week ending January 21, prices in the Chinese domestic cold rolled coil (CRC) market have continued to indicate an overall downward trend, while transaction activity in the market has remained poor. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, HRC prices in China have moved on a downtrend, exerting negative impact on the domestic CRC market. Amid sluggish demand and bearish sentiment, traders have lowered their prices in order to sell products and bring in cash. However, this has just resulted in fierce competition among traders instead of boosting transaction activity. It is expected that CRC prices in the Chinese domestic market will continue their downtrend in the coming week.