Chinese domestic CRC market maintains its downward movement

Despite the continuing downtrend observed in the local Chinese CRC market, some improvement has been observed in transaction activity, while at the same time traders' confidence has picked up slightly. However, on the one hand, iron ore prices are still on the decline, while on the other hand mills have not yet noticeably cut their production of cold rolled steel products. As market insiders indicate, risks still exist in the market. On the whole, further decreases are still expected in China's domestic CRC market.