Amid the low number of construction starts during the summer, market activity has declined slightly in the past week. Also, with CRC prices indicating minor downticks, traders of CRC products are now more cautious.
Towards the end of the month, traders are generally facing financial pressures and have accelerated destocking by lowering offers. Meanwhile, Chinese crude steel output continues to rise, meaning that supply side pressure will increase further.
It is expected that in the short term local Chinese CRC prices will not indicate significant increase, though small upticks may be seen.