During the week ending July 23, the Chinese domestic cold rolled coil (CRC) market has seen a stable trend, 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.
During the given week, CRC prices in the Chinese domestic market have followed a stable trend after the slight declines seen in previous weeks, while a wait-and-see mood prevails in the market. The main domestic steelmakers have issued their CRC prices for August shipment, mostly keeping them unchanged, which has provided a certain degree of support for CRC prices in the spot market. However, the offseason for demand in the hot summer season has limited purchasing volumes from downstream industries. It is expected that CRC prices in the Chinese domestic market are unlikely to see a rebound, but may remain on their stable trend in the coming week.