During the week ending October 24, cold rolled coil (CRC) prices in the Chinese domestic market have trended sideways in general, fluctuating within a narrow range. Average CRC prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
In the given period, Chinese CRC market has witnessed only slight price changes, mainly due to the uncertain macroeconomic climate in the country ahead of the 18th National Congress of Communist Party of China and increased supply pressure, created by new arrivals in the Chinese market. On the other hand, some traders heavy low-cost CRC inventories, that they built up before price increases may affect the market negatively in the coming period.
For the coming week, the Chinese domestic CRC market is expected to continue to trend sideways.