During the week ending December 12, cold rolled coil (CRC) prices in the Chinese domestic market have trended up slightly. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
The positive trend of CRC prices in China in the past week was mainly due to the higher prices announced by Chinese steelmakers in November. Meanwhile, major domestic steel producer Baosteel has just issued its flat steel prices for January delivery, raising its HRC prices by RMB 80/mt ($12/mt) and its CRC prices by RMB 60/mt ($9/mt).
As for the prospects for the coming period, it is expected that CRC prices in China will not witness significant changes. Sluggish transaction activity and tight capital supply will limit price increases for CRC, while the CRC market is unlikely to move downward due to the cost factor and shortages of some product specifications. It is thought that CRC prices in the local Chinese market may fluctuate within a narrow range in the coming week.