During the week ending September 24, prices in the Chinese domestic cold rolled coil (CRC) market have remained on a soft trend, 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, with commodity markets seeing sharp declines, bearish sentiment prevails among CRC traders in the Chinese domestic market. Due to the sharp declines recorded in the market in the recent period, market participants are cautious on the prospects for the market and have been willing to sell at lower prices in order to bring in cash. Meanwhile, inventory levels of CRC have risen in the past week, exerting a negative impact on the supply-demand situation. It is thought that CRC prices in the Chinese domestic market will likely continue their downward movement in the coming week.