During the past week ending March 21, the Chinese cold rolled coil (CRC) market has followed a neutral to slightly upward trend. Average prices of CRC products in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
Market players state that prices in the domestic CRC market have been supported by mills' price hike strategy over the last two months as well as by the increased overhaul work carried out by cold rolling mills.
Gasoline and diesel prices in China have been increased, as announced by the country's National Development and Reform Commission (NDRC). The increases in transportation costs are also expected to contribute to rises in domestic steel prices.
Besides strong support from costs, the domestic CRC price trend is expected to be mainly determined by actual market activity. In anticipation of improved downstream demand, it is thought that the Chinese domestic CRC market will see upward movement in the coming period.