During the week ending February 11, prices in the Chinese domestic cold rolled coil (CRC) market have indicated a slight downtrend, while transaction activity in the market has improved a little compared to the previous week, though it remains on the sluggish side. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, most small CRC traders in China have started their holidays ahead of the Spring Festival (February 18-24), though large-size traders will remain in the market until February 13. With limited time left for traders to sell products and ease inventory pressure before the holiday, traders have cut their offer prices slightly. It is expected that CRC prices in the Chinese domestic market will fluctuate within a limited range in the coming week, and will move on a stable trend during the Spring Festival holiday.