During the week ending September 19, the Chinese domestic cold rolled coil (CRC) market has maintained an upward trend amid some improvement in market activities. Average CRC prices in the Chinese market can be viewed in the SteelOrbis price reports section.
In the given week, the Chinese CRC market has been supported by the increases in domestic hot rolled coil (HRC) and semi-finished prices. However, traders hold divergent views on the future prospects for the CRC market. As market activity is still not at very strong levels, many traders are seeking to attract orders and reduce stocks due to their lack of confidence in the market. Other traders with low stock levels are maintaining a wait-and-see policy. At the same time, downstream users are cautious as regards purchasing CRC products following the unexpected increase in finished steel prices in the Chinese domestic market. Most buyers are still not inclined to place orders for large volumes.
It is thought that the Chinese CRC market may indicate an uptrend in the coming days. However, the imbalance between supply and demand will eventually put pressure on the rising trend.