The Chinese cold rolled coil (CRC) market has generally moved sideways in the past week, though some slight upticks have also been seen. Average CRC prices in the Chinese market can be viewed in the SteelOrbis price reports section.
In a context of softening demand and traders' desire to sell off materials, China's CRC market has been characterized by high offers and low transaction prices. Some traders are adopting a wait-and-see stance, while others are less confident on the future prospects for the market.
Compared to recent reduced capacity utilization rates, the CRC production of the main domestic producers is expected to rise somewhat in the coming period. However, weak activity in the construction sector, the lack of growth in car sales, and the poor sales performance for household appliances have given rise to pessimism on the outlook for the domestic downstream sectors.
Summing up, market transaction activity remains at a low level, while market prices lack support for upward movement. It is expected the Chinese CRC market will fluctuate in a sideways direction in the coming week.