During the week ending July 9, the Chinese domestic cold rolled coil (CRC) market has seen both slight upticks and downticks in product prices, while transaction activity has been weak. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, since traders hold varying views on the future prospects for the local CRC market, domestic CRC prices have indicated both slight increases and minor declines. Prices in the domestic CRC market are considered to be at low levels right now, following the previous long-standing soft trend, and this limits the room for downward movement in the coming period. Meanwhile, production costs may provide some support for CRC prices in the spot market. Currently, most traders think that transaction activity will not indicate any significant change even if they lower their offer prices. It is expected that domestic CRC prices will continue to fluctuate within a narrow range in the coming week.