During the week ending December 25, the Chinese domestic cold rolled coil (CRC) market has been characterized by a slight decline in prices. Average CRC prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Accordingly, the slight decrease in CRC prices is mainly due to traders' willingness to clear their inventories before the end of the year to bring in cash flow. While the transaction activity in the Chinese CRC market is still not in good levels, with the gradual arrival of new materials into the market, supply is sufficient. On the other hand, most traders are not willing to lower their CRC prices since current spot prices are even lower than last year's lowest level, as well as due to high production costs. As regards the coming week, it is thought that Chinese domestic CRC prices may indicate a sideways trend with a minor fluctuation.