During the week ending June 18, the Chinese domestic cold rolled coil (CRC) market has continued its slight downward movement, 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.
Currently, CRC supplies are at high levels in the Chinese domestic market amid the limited maintenance work being carried out by steelmakers. Meanwhile, tightness of liquidity is observed in the market, with traders seeking to stimulating sales in order to bring in funds. In addition, demand from downstream industries has been sluggish and is expected to be impacted further by the hot summer weather in June and July. It is thought that CRC prices in the Chinese domestic will continue to indicate a slight softening in the coming week.