During the week ending May 14, the Chinese domestic cold rolled coil (CRC) market has continued its overall slight downward movement, while transaction activity has remained at poor levels. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
While the months of April and May traditionally constitute the peak production season for the automotive and household appliance sectors in China, transaction activity for CRC products in the Chinese domestic market in the April-May period of the current year has not indicated any significant improvement, with demand from downstream users remaining slack. Meanwhile, most traders hold a pessimistic view of the prospects for the future market and consider that the off-season for business might arrive earlier this year. Due to pressures from inventory and shortages of funds, traders are willing to sell at lower prices. It is thought that CRC prices in the Chinese domestic market will likely continue to indicate a slight downtrend in the coming week.