During the week ending April 16, the Chinese domestic cold rolled coil (CRC) market has fluctuated within a narrow range, with most prices indicating minor upticks, but with some slight downticks in prices also witnessed. Meanwhile, transaction activity has remained at low 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 fluctuated slightly depending on differing sentiments among local traders. Chinese steel giant Baosteel has lowered its ex-works prices of CRC produced at its main production base by RMB 150/mt ($16/mt), negatively impacting market sentiment. Meanwhile, the rises seen in China's production and sales of automotive vehicles in March did not result in any significant stimulation of CR consumption due to high inventories of automotive vehicles. It is expected that in the coming week CRC prices in the Chinese domestic market will move on a weak trend, with prices likely to fluctuate within a limited range.