During the week ending November 14, cold rolled coil (CRC) prices in the Chinese domestic market have trended up slightly.
The positive pricing trend in the CRC spot market in China is mainly attributable to the strong performance observed in the domestic steel futures market. Transaction activity in the overall CRC market is moderate, while some specifications are now in short supply. In addition, pushed by the rising trend of local HRC prices, CRC traders are currently more eager to push up their quotations. Meanwhile, many steel producers have also announced an increase in their ex-mill CRC prices.
As for the near future, the Chinese CRC market is expected to maintain its upward movement.