During the week ending June 6, the Chinese cold rolled coil (CRC) market has maintained its downward trend of the previous week, with market prices dropping down towards the bottom. Average CRC prices in the main Chinese cities can be viewed in the SteelOrbis price reports section.
In the past week, domestic traders lowered their CRC offers to increase their booking volumes amid their pessimism as regards the future prospects for the market. Meanwhile, Tianjin Angang Tiantie Cold Rolled Sheet Co. has supplied materials at attractive prices to the market, thereby increasing the pressure on traders.
On the other hand, given the positive trends for the domestic HRC and HDG markets, there appears to be an increased possibility of a rebound in the Chinese CRC market in the short term.
Overall, it is expected that the Chinese CRC market will continue its downtrend in the coming week, but with a reduced decrease in prices.