During the week ending October 15, prices in the Chinese domestic cold rolled coil (CRC) market have indicated slight declines, while transaction activity has remained at low levels as market participants lack confidence as regards the future prospects for the market. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, though local HRC prices have indicated a rising trend, CRC prices in the domestic market have not been affected as plentiful low-priced CRC resources have resulted in severe price competition in the market. Currently, HRC prices are at comparatively low levels, while CRC prices are considered to be at relatively high levels and only a continuous rebound in HRC prices could provide solid support for CRC prices and enable them to move on a stable trend. It is expected that CRC prices in the Chinese domestic market will see a further declining movement in the coming week.